Wealthsource Partners LLC bought a new position in Apollo Global Management LLC (NYSE:APO) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,355 shares of the financial services provider’s stock, valued at approximately $251,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Tiger Global Management LLC boosted its holdings in shares of Apollo Global Management by 40.9% in the second quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock valued at $869,814,000 after purchasing an additional 9,550,313 shares during the period. GMT Capital Corp raised its stake in Apollo Global Management by 224.2% in the second quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock worth $112,421,000 after buying an additional 2,951,622 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Apollo Global Management by 48.3% in the second quarter. JPMorgan Chase & Co. now owns 5,241,867 shares of the financial services provider’s stock worth $138,648,000 after buying an additional 1,707,154 shares in the last quarter. Capital World Investors raised its stake in Apollo Global Management by 16.5% in the second quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock worth $202,335,000 after buying an additional 1,082,313 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Apollo Global Management by 4,894.9% in the third quarter. Ameriprise Financial Inc. now owns 746,881 shares of the financial services provider’s stock worth $22,481,000 after buying an additional 731,928 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.
Shares of Apollo Global Management LLC (APO) traded up $0.18 during mid-day trading on Friday, reaching $33.47. 675,279 shares of the company’s stock traded hands, compared to its average volume of 815,010. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.74. Apollo Global Management LLC has a 52 week low of $19.28 and a 52 week high of $34.03. The stock has a market cap of $6,442.95, a PE ratio of 10.94, a PEG ratio of 1.11 and a beta of 1.22.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Tuesday, November 21st were paid a dividend of $0.39 per share. The ex-dividend date was Monday, November 20th. This represents a $1.56 annualized dividend and a yield of 4.66%. Apollo Global Management’s dividend payout ratio is currently 50.98%.
APO has been the subject of a number of recent research reports. Jefferies Group reissued a “buy” rating and issued a $34.00 target price on shares of Apollo Global Management in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Tuesday, December 19th. Citigroup increased their target price on shares of Apollo Global Management from $35.50 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $35.00 target price on shares of Apollo Global Management in a research note on Thursday, October 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 price target (up from $28.00) on shares of Apollo Global Management in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating, ten 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 a consensus price target of $33.54.
In related news, major shareholder Tiger Global Management Llc purchased 43,714 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $29.18 per share, for a total transaction of $1,275,574.52. The purchase was disclosed in a document filed with the SEC, which is available through this link. 4.11% of the stock is owned by company insiders.
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About Apollo Global Management
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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