BOCHK Asset Management Ltd Has $8.89 Million Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

BOCHK Asset Management Ltd grew its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 97.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 71,200 shares of the financial services provider’s stock after acquiring an additional 35,200 shares during the period. Apollo Global Management makes up approximately 2.6% of BOCHK Asset Management Ltd’s portfolio, making the stock its 13th biggest position. BOCHK Asset Management Ltd’s holdings in Apollo Global Management were worth $8,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. IFM Investors Pty Ltd raised its holdings in Apollo Global Management by 2.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 84,205 shares of the financial services provider’s stock worth $10,518,000 after purchasing an additional 2,085 shares during the last quarter. Great Lakes Retirement Inc. increased its holdings in shares of Apollo Global Management by 4.1% during the third quarter. Great Lakes Retirement Inc. now owns 8,669 shares of the financial services provider’s stock valued at $1,083,000 after acquiring an additional 344 shares in the last quarter. Tanager Wealth Management LLP bought a new position in shares of Apollo Global Management in the third quarter valued at $210,000. YHB Investment Advisors Inc. increased its holdings in Apollo Global Management by 7.5% during the 3rd quarter. YHB Investment Advisors Inc. now owns 7,498 shares of the financial services provider’s stock worth $937,000 after purchasing an additional 524 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Apollo Global Management by 12,086.7% during the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after purchasing an additional 367,195 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

APO stock traded up $2.28 on Thursday, reaching $145.82. The company had a trading volume of 984,794 shares, compared to its average volume of 2,583,576. The company’s fifty day moving average is $123.18 and its 200 day moving average is $117.55. The company has a market cap of $82.85 billion, a P/E ratio of 16.11, a PEG ratio of 1.39 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $1.54 earnings per share. On average, research analysts forecast that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APO. 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. TD Cowen upped their price target on shares of Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Argus dropped their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods raised 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.56.

Apollo Global Management Company Profile

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.