Meridian Wealth Management LLC purchased a new stake in shares of Apollo Global Management, LLC (NYSE:APO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,205 shares of the financial services provider’s stock, valued at approximately $277,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. NEXT Financial Group Inc grew its position in Apollo Global Management by 106.5% during the second quarter. NEXT Financial Group Inc now owns 6,400 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 3,300 shares during the last quarter. Penserra Capital Management LLC grew its position in Apollo Global Management by 10.0% during the second quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 589 shares during the last quarter. Cowen Prime Services LLC grew its position in Apollo Global Management by 400.0% during the second quarter. Cowen Prime Services LLC now owns 7,500 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 6,000 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Apollo Global Management during the second quarter valued at approximately $202,000. Finally, Janney Montgomery Scott LLC bought a new position in Apollo Global Management during the second quarter valued at approximately $211,000. Institutional investors and hedge funds own 73.52% of the company’s stock.
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In related news, Director A B. Krongard purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average cost of $29.28 per share, with a total value of $29,280.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John J. Suydam sold 53,383 shares of Apollo Global Management stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $29.07, for a total transaction of $1,551,843.81. The disclosure for this sale can be found here. Insiders have purchased a total of 294,672 shares of company stock worth $8,444,659 over the last ninety days. 4.11% of the stock is currently owned by insiders.
Shares of Apollo Global Management, LLC (NYSE APO) traded up $0.65 during trading on Friday, hitting $31.29. 1,333,735 shares of the stock traded hands, compared to its average volume of 866,217. The company has a market capitalization of $6,067.54, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.80 and a quick ratio of 1.80. Apollo Global Management, LLC has a 1 year low of $17.65 and a 1 year high of $33.37.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.51. The company had revenue of $645.20 million for the quarter, compared to analyst estimates of $467.72 million. Apollo Global Management had a net margin of 24.82% and a return on equity of 66.61%. The firm’s revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. analysts forecast that Apollo Global Management, LLC will post 2.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Tuesday, November 21st will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Monday, November 20th. Apollo Global Management’s dividend payout ratio (DPR) is presently 67.97%.
APO has been the topic of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd. UBS AG reiterated a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $33.00 price target on shares of Apollo Global Management in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, October 10th. Finally, Citigroup Inc. increased their price target on shares of Apollo Global Management from $35.50 to $38.00 and gave the company a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $33.31.
Apollo Global Management Company Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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