Alps Advisors Inc. Purchases Shares of 106,300 Apollo Global Management LLC (NYSE:APO)

Alps Advisors Inc. purchased a new stake in Apollo Global Management LLC (NYSE:APO) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 106,300 shares of the financial services provider’s stock, valued at approximately $4,020,000.

A number of other hedge funds also recently bought and sold shares of the business. Rothschild Investment Corp IL grew its stake in Apollo Global Management by 0.5% in the second quarter. Rothschild Investment Corp IL now owns 80,577 shares of the financial services provider’s stock valued at $2,764,000 after purchasing an additional 400 shares in the last quarter. Stelac Advisory Services LLC grew its stake in Apollo Global Management by 3.9% in the third quarter. Stelac Advisory Services LLC now owns 11,423 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 430 shares in the last quarter. Heritage Wealth Advisors grew its stake in Apollo Global Management by 100.0% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Private Advisor Group LLC grew its stake in Apollo Global Management by 4.5% in the second quarter. Private Advisor Group LLC now owns 13,058 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 560 shares in the last quarter. Finally, MBM Wealth Consultants LLC grew its stake in Apollo Global Management by 6.2% in the second quarter. MBM Wealth Consultants LLC now owns 11,108 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 648 shares in the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets began coverage on Apollo Global Management in a research report on Monday, October 7th. They issued an “outperform” rating and a $52.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $53.00 price objective (up from $49.00) on shares of Apollo Global Management in a research report on Tuesday, October 29th. Bank of America raised their price objective on Apollo Global Management from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $45.00) on shares of Apollo Global Management in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Apollo Global Management currently has a consensus rating of “Buy” and an average target price of $45.25.

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APO opened at $42.27 on Friday. Apollo Global Management LLC has a 12-month low of $22.63 and a 12-month high of $44.18. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of -201.29, a PEG ratio of 1.33 and a beta of 1.51. The business has a 50 day moving average of $40.08 and a 200-day moving average of $35.76. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.24.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). The firm had revenue of $401.38 million during the quarter, compared to the consensus estimate of $404.24 million. During the same period last year, the firm posted $0.83 earnings per share. As a group, analysts expect that Apollo Global Management LLC will post 2.33 earnings per share for the current year.

In other news, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.96, for a total value of $159,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 46.90% of the company’s stock.

About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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