Chesapeake Asset Management LLC cut its holdings in shares of Apollo Global Management, LLC (NYSE:APO) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,256 shares of the financial services provider’s stock after selling 10,793 shares during the period. Apollo Global Management makes up 1.4% of Chesapeake Asset Management LLC’s holdings, making the stock its 26th biggest holding. Chesapeake Asset Management LLC’s holdings in Apollo Global Management were worth $1,603,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Alps Advisors Inc. increased its position in shares of Apollo Global Management by 0.3% during the second quarter. Alps Advisors Inc. now owns 20,534 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 53 shares in the last quarter. Veritable L.P. boosted its holdings in Apollo Global Management by 1.4% during the second quarter. Veritable L.P. now owns 13,037 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 182 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Apollo Global Management by 5.7% during the second quarter. Wedbush Securities Inc. now owns 9,280 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 500 shares during the last quarter. Penserra Capital Management LLC boosted its holdings 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 worth $171,000 after purchasing an additional 589 shares during the last quarter. Finally, SOL Capital Management CO boosted its holdings in Apollo Global Management by 1.4% during the second quarter. SOL Capital Management CO now owns 44,200 shares of the financial services provider’s stock worth $1,169,000 after purchasing an additional 600 shares during the last quarter. 73.69% of the stock is owned by institutional investors.
Shares of Apollo Global Management, LLC (NYSE APO) traded down $0.11 during mid-day trading on Monday, hitting $30.39. 1,090,600 shares of the company were exchanged, compared to its average volume of 1,251,295. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.58. The stock has a market cap of $5,881.68, a PE ratio of 9.13, a P/E/G ratio of 1.02 and a beta of 1.23. Apollo Global Management, LLC has a 12 month low of $18.75 and a 12 month high of $33.37.
Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.51. The business 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 64.11%. Apollo Global Management’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. sell-side analysts anticipate that Apollo Global Management, LLC will post 2.98 EPS for the current fiscal year.
The company also recently announced 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 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Monday, November 20th. Apollo Global Management’s dividend payout ratio (DPR) is presently 67.97%.
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Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. Zacks Investment Research cut shares of Apollo Global Management from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. JMP Securities reiterated an “outperform” rating and issued a $32.00 target price on shares of Apollo Global Management in a research note on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $34.00 target price on shares of Apollo Global Management in a research note on Tuesday, September 26th. Finally, Credit Suisse Group boosted their target price on shares of Apollo Global Management from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.38.
In related news, Director A B. Krongard purchased 1,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of $29.28 per share, with a total value of $29,280.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Tiger Global Management Llc purchased 253,672 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was bought at an average cost of $28.48 per share, for a total transaction of $7,224,578.56. The disclosure for this purchase can be found here. Corporate insiders own 4.11% of the company’s stock.
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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