Smithbridge Asset Management Inc. DE Has $13.23 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Smithbridge Asset Management Inc. DE raised its stake in Apollo Global Management, Inc. (NYSE:APO) by 47.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,904 shares of the financial services provider’s stock after purchasing an additional 34,083 shares during the period. Apollo Global Management accounts for 2.3% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 8th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Apollo Global Management were worth $13,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baker Tilly Wealth Management LLC grew its holdings in shares of Apollo Global Management by 17.0% during the third quarter. Baker Tilly Wealth Management LLC now owns 8,013 shares of the financial services provider’s stock valued at $1,001,000 after buying an additional 1,162 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Apollo Global Management during the third quarter valued at about $1,331,000. Forsta AP Fonden grew its holdings in shares of Apollo Global Management by 8.4% during the third quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider’s stock valued at $17,937,000 after buying an additional 11,100 shares during the last quarter. Osborne Partners Capital Management LLC boosted its holdings in Apollo Global Management by 0.3% during the third quarter. Osborne Partners Capital Management LLC now owns 59,172 shares of the financial services provider’s stock worth $7,391,000 after purchasing an additional 178 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Apollo Global Management by 14.3% during the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 91 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the company’s 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 completion of the acquisition, the director now owns 85,854 shares in the company, valued at $9,007,801.68. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

APO has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. UBS Group boosted their price target on shares of Apollo Global Management from $117.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price target for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.56.

Apollo Global Management Stock Up 0.8 %

Shares of NYSE APO opened at $144.17 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $146.82. The firm has a market capitalization of $81.91 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. The firm has a fifty day simple moving average of $124.54 and a two-hundred day simple moving average of $118.01.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $1.54 earnings per share. Equities analysts expect that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

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

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.