L & S Advisors Inc Makes New $3.34 Million Investment in Apollo Global Management, Inc. (NYSE:APO)

L & S Advisors Inc acquired a new position in Apollo Global Management, Inc. (NYSE:APO) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 26,718 shares of the financial services provider’s stock, valued at approximately $3,337,000.

Several other institutional investors and hedge funds have also made changes to their positions in APO. Smithfield Trust Co increased its position in Apollo Global Management by 4.7% during the 3rd quarter. Smithfield Trust Co now owns 2,036 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 92 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Apollo Global Management by 43.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after purchasing an additional 233,670 shares during the last quarter. Moors & Cabot Inc. lifted its stake in Apollo Global Management by 8.1% during the third quarter. Moors & Cabot Inc. now owns 14,508 shares of the financial services provider’s stock worth $1,812,000 after purchasing an additional 1,087 shares during the last quarter. Bellwether Advisors LLC acquired a new stake in Apollo Global Management in the third quarter worth $3,585,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after purchasing an additional 4,941 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APO shares. Redburn Partners assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Piper Sandler initiated coverage on Apollo Global Management in a research note on Tuesday. They issued an “overweight” rating and a $188.00 price objective on the stock. UBS Group raised Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Price Performance

Shares of APO opened at $163.90 on Thursday. The company has a market capitalization of $92.74 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.59. The business has a 50-day moving average of $140.91 and a 200-day moving average of $123.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 1 year low of $88.18 and a 1 year high of $169.15.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be issued a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, November 18th. Apollo Global Management’s payout ratio is presently 19.33%.

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.