Wellington Shields Capital Management LLC Purchases 6,810 Shares of Apollo Global Management Inc. $APO

Wellington Shields Capital Management LLC raised its position in shares of Apollo Global Management Inc. (NYSE:APO) by 10.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 71,731 shares of the financial services provider’s stock after purchasing an additional 6,810 shares during the quarter. Apollo Global Management accounts for about 1.5% of Wellington Shields Capital Management LLC’s holdings, making the stock its 15th biggest holding. Wellington Shields Capital Management LLC’s holdings in Apollo Global Management were worth $9,560,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of APO. Charles Schwab Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after purchasing an additional 36,866 shares during the period. Bank of New York Mellon Corp lifted its holdings in Apollo Global Management by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock worth $326,716,000 after buying an additional 48,053 shares during the period. Bessemer Group Inc. grew its position in shares of Apollo Global Management by 31.1% in the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after buying an additional 383,198 shares during the last quarter. Amundi grew its position in shares of Apollo Global Management by 68.9% in the 2nd quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock worth $187,199,000 after buying an additional 534,904 shares during the last quarter. Finally, Heard Capital LLC increased its stake in shares of Apollo Global Management by 14.1% during the second quarter. Heard Capital LLC now owns 1,274,970 shares of the financial services provider’s stock valued at $180,880,000 after buying an additional 157,750 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $133.24 on Friday. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $167.15. The firm’s 50-day simple moving average is $141.58 and its two-hundred day simple moving average is $136.68. The stock has a market cap of $77.34 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.49 and a current ratio of 1.49.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Evercore lifted their price target on shares of Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. UBS Group cut their target price on shares of Apollo Global Management from $186.00 to $182.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Wolfe Research reissued an “outperform” rating on shares of Apollo Global Management in a research note on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a report on Monday, December 29th. Finally, Barclays reduced their target price on Apollo Global Management from $172.00 to $168.00 and set an “overweight” rating on the stock in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.62.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $131.41, for a total transaction of $788,460.00. Following the completion of the transaction, the chief financial officer owned 325,604 shares of the company’s stock, valued at $42,787,621.64. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is owned by insiders.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.