Apollo Global Management, Inc. (NYSE:APO) Short Interest Update

Apollo Global Management, Inc. (NYSE:APO) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 21,480,000 shares, an increase of 7.4% from the September 15th total of 20,000,000 shares. Based on an average trading volume of 2,970,000 shares, the short-interest ratio is presently 7.2 days.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Capital Research Global Investors increased its stake in shares of Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after purchasing an additional 1,360,525 shares in the last quarter. Legal & General Group Plc grew its stake in Apollo Global Management by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after acquiring an additional 126,859 shares during the period. TD Asset Management Inc grew its stake in Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after acquiring an additional 97,797 shares during the period. Curated Wealth Partners LLC grew its stake in Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after acquiring an additional 4,717,661 shares during the period. Finally, William Blair Investment Management LLC grew its stake in Apollo Global Management by 8.4% in the 1st quarter. William Blair Investment Management LLC now owns 1,904,212 shares of the financial services provider’s stock worth $214,129,000 after acquiring an additional 147,710 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO traded up $2.77 on Thursday, hitting $145.62. 1,129,010 shares of the company were exchanged, compared to its average volume of 2,596,869. 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 business’s fifty day moving average is $119.16 and its 200 day moving average is $116.42. Apollo Global Management has a fifty-two week low of $77.11 and a fifty-two week high of $146.82. The firm has a market capitalization of $82.74 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

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

Apollo Global Management Cuts Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APO. Argus reduced their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company upped 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. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their target price for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI upped their target price on shares of Apollo Global Management from $127.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.06.

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.