Border to Coast Pensions Partnership Ltd Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

Border to Coast Pensions Partnership Ltd purchased a new position in Apollo Global Management, Inc. (NYSE:APO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,500 shares of the financial services provider’s stock, valued at approximately $2,180,000.

A number of other hedge funds have also modified their holdings of the company. Cyndeo Wealth Partners LLC boosted its position in shares of Apollo Global Management by 3.0% in the third quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 77 shares during the period. Chicago Capital LLC boosted its position in shares of Apollo Global Management by 1.2% during the third quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock worth $709,000 after acquiring an additional 69 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Apollo Global Management by 230.7% during the third quarter. Blue Trust Inc. now owns 3,208 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 2,238 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its position in shares of Apollo Global Management by 17.8% during the third quarter. Moss Adams Wealth Advisors LLC now owns 2,358 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 357 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Apollo Global Management during the third quarter worth $487,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Down 0.4 %

Shares of APO traded down $0.60 during midday trading on Monday, hitting $144.41. The stock had a trading volume of 803,886 shares, compared to its average volume of 2,592,676. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $146.82. The firm has a market cap of $82.05 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50 day moving average is $120.81 and its 200 day moving average is $116.89.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the prior year, the business earned $1.54 EPS. As a group, analysts forecast that Apollo Global Management, Inc. will post 6.66 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Argus dropped their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their target price on shares of Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Redburn Partners initiated coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $138.06.

Insider Buying and Selling

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.