nVerses Capital LLC Acquires New Shares in Apollo Global Management, Inc. (NYSE:APO)

nVerses Capital LLC acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,800 shares of the financial services provider’s stock, valued at approximately $974,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in APO. Swedbank AB raised its stake in shares of Apollo Global Management by 50.9% during the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after buying an additional 26,300 shares during the period. Creative Planning grew its holdings in Apollo Global Management by 5.9% in the 3rd quarter. Creative Planning now owns 41,784 shares of the financial services provider’s stock valued at $5,219,000 after buying an additional 2,316 shares in the last quarter. Capricorn Fund Managers Ltd grew its holdings in Apollo Global Management by 29.3% in the 3rd quarter. Capricorn Fund Managers Ltd now owns 9,105 shares of the financial services provider’s stock valued at $1,137,000 after buying an additional 2,065 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management in the 3rd quarter valued at $35,000. Finally, Ameliora Wealth Management Ltd. grew its holdings in shares of Apollo Global Management by 1.9% during the 3rd quarter. Ameliora Wealth Management Ltd. now owns 22,390 shares of the financial services provider’s stock worth $2,797,000 after purchasing an additional 410 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Up 1.2 %

NYSE:APO traded up $1.69 on Thursday, hitting $144.54. 788,555 shares of the stock were exchanged, compared to its average volume of 2,595,175. 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 fifty-two week low of $77.11 and a fifty-two week high of $146.82. The stock has a market cap of $82.12 billion, a PE ratio of 15.82, a PEG ratio of 1.39 and a beta of 1.62. The stock has a fifty day moving average of $119.16 and a 200-day moving average of $116.42.

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

Apollo Global Management Cuts Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Redburn Atlantic assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. UBS Group boosted their target price on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.06.

Insider Buying and Selling

In related news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

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.