Empowered Funds LLC Grows Stake in Apollo Global Management, Inc. (NYSE:APO)

Empowered Funds LLC grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 145.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,874 shares of the financial services provider’s stock after purchasing an additional 23,024 shares during the quarter. Empowered Funds LLC’s holdings in Apollo Global Management were worth $4,856,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management in the third quarter valued at about $35,000. Cullen Frost Bankers Inc. acquired a new position in shares of Apollo Global Management during the second quarter valued at about $35,000. Massmutual Trust Co. FSB ADV raised its position in shares of Apollo Global Management by 293.2% in the 2nd 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 last quarter. Mather Group LLC. boosted its stake in Apollo Global Management by 826.9% in the 2nd quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 645 shares in the last quarter. Finally, Allworth Financial LP grew its position in Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APO. Deutsche Bank Aktiengesellschaft raised their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Citigroup lifted their price target on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen increased their price objective on Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Redburn Partners began coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.83.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $163.63 on Monday. The firm has a market cap of $92.59 billion, a PE ratio of 17.10, a P/E/G ratio of 1.69 and a beta of 1.59. Apollo Global Management, Inc. has a twelve month low of $85.84 and a twelve month high of $168.67. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $137.45 and a 200 day moving average price of $122.72.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.13%. Apollo Global Management’s dividend payout ratio (DPR) is 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.