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

Smithbridge Asset Management Inc. DE boosted its position in Apollo Global Management, Inc. (NYSE:APO) by 47.5% in the third quarter, HoldingsChannel.com reports. The firm owned 105,904 shares of the financial services provider’s stock after acquiring an additional 34,083 shares during the period. Apollo Global Management accounts for approximately 2.3% of Smithbridge Asset Management Inc. DE’s investment portfolio, 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 SEC.

A number of other large investors have also added to or reduced their stakes in APO. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management in the third quarter valued at approximately $35,000. Cullen Frost Bankers Inc. purchased a new stake in Apollo Global Management in the 2nd quarter valued at $35,000. J.Safra Asset Management Corp raised its position in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after buying an additional 305 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Apollo Global Management by 293.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares during the period. Finally, Orion Capital Management LLC raised its stake in shares of Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 100 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of recent research reports. Argus decreased their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. TD Cowen boosted their price objective on Apollo Global Management from $135.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Barclays increased their price target on shares of Apollo Global Management from $128.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company increased their target price on shares of Apollo Global Management from $148.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.56.

Apollo Global Management Stock Up 0.8 %

Shares of APO stock opened at $144.17 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap 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 business’s fifty day moving average is $124.54 and its 200-day moving average is $118.01. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $146.82.

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 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 business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period in the previous year, the company posted $1.54 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. 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 (DPR) is currently 20.49%.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, with a total value of $246,666.92. Following the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is currently owned by company 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.