Forum Financial Management LP Acquires 7,846 Shares of Apollo Global Management Inc. $APO

Forum Financial Management LP grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 37.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,769 shares of the financial services provider’s stock after acquiring an additional 7,846 shares during the period. Forum Financial Management LP’s holdings in Apollo Global Management were worth $3,162,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Apollo Global Management by 4.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock valued at $669,372,000 after purchasing an additional 234,517 shares during the period. Legal & General Group Plc bought a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp purchased a new stake in shares of Apollo Global Management during the second quarter valued at $336,644,000. Temasek Holdings Private Ltd lifted its position in shares of Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after acquiring an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC raised its position in Apollo Global Management by 91.8% during the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after buying an additional 1,055,818 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 0.9%

APO opened at $110.87 on Friday. The firm has a market cap of $65.47 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 0.99 and a beta of 1.58. The firm’s 50-day simple moving average is $126.76 and its 200-day simple moving average is $125.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm posted $1.92 EPS. Equities research analysts anticipate that Apollo Global Management Inc. will post 8.00 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. Apollo Global Management’s payout ratio is currently 82.42%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APO. The Goldman Sachs Group cut their target price on shares of Apollo Global Management from $154.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Royal Bank Of Canada boosted their target price on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. UBS Group reduced their price objective on Apollo Global Management from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on Apollo Global Management from $150.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.60.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is owned by company insiders.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.