Hsbc Holdings PLC Purchases 4,706 Shares of Apollo Global Management LLC (APO)
Hsbc Holdings PLC lifted its position in shares of Apollo Global Management LLC (NYSE:APO) by 26.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,424 shares of the financial services provider’s stock after acquiring an additional 4,706 shares during the period. Hsbc Holdings PLC’s holdings in Apollo Global Management were worth $551,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in APO. Ancora Advisors LLC bought a new position in Apollo Global Management in the 3rd quarter valued at about $156,000. Stelac Advisory Services LLC grew its position in Apollo Global Management by 5.6% in the 4th quarter. Stelac Advisory Services LLC now owns 6,605 shares of the financial services provider’s stock valued at $162,000 after buying an additional 352 shares in the last quarter. Alpine Global Management LLC bought a new position in Apollo Global Management in the 3rd quarter valued at about $210,000. National Asset Management Inc. grew its position in Apollo Global Management by 6.0% in the 4th quarter. National Asset Management Inc. now owns 8,900 shares of the financial services provider’s stock valued at $219,000 after buying an additional 500 shares in the last quarter. Finally, B. Riley Wealth Management Inc. bought a new position in Apollo Global Management in the 3rd quarter valued at about $220,000. Institutional investors and hedge funds own 72.25% of the company’s stock.
In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.13, for a total value of $145,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.11% of the stock is currently owned by corporate insiders.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, January 31st. The financial services provider reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.29). Apollo Global Management had a net margin of 19.45% and a return on equity of 17.25%. The business had revenue of ($114.89) million during the quarter. On average, equities research analysts forecast that Apollo Global Management LLC will post 2.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 8.03%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, February 20th. Apollo Global Management’s dividend payout ratio is presently -1,066.67%.
A number of brokerages recently issued reports on APO. Zacks Investment Research lowered shares of Apollo Global Management from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 3rd. Argus decreased their target price on shares of Apollo Global Management from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, February 5th. Finally, TheStreet lowered shares of Apollo Global Management from a “b” rating to a “c” rating in a research report on Monday, February 4th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $37.00.
ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/hsbc-holdings-plc-purchases-4706-shares-of-apollo-global-management-llc-apo/2923850.html.
About Apollo Global Management
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
Recommended Story: Book Value Per Share in Stock Trading
Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management LLC (NYSE:APO).
Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.