Moors & Cabot Inc. Boosts Stake in Apollo Global Management, Inc. (NYSE:APO)

Moors & Cabot Inc. lifted its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 8.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,508 shares of the financial services provider’s stock after purchasing an additional 1,087 shares during the period. Moors & Cabot Inc.’s holdings in Apollo Global Management were worth $1,812,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Capital Research Global Investors boosted 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 acquiring an additional 1,360,525 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Apollo Global Management by 3.0% during 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 in the last quarter. TD Asset Management Inc boosted its stake in shares of Apollo Global Management by 3.8% during 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 in the last quarter. Curated Wealth Partners LLC boosted its stake in shares of Apollo Global Management by 200.3% during 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 in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Apollo Global Management by 2.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,294,530 shares of the financial services provider’s stock worth $152,845,000 after purchasing an additional 37,070 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $162.87 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $92.15 billion, a P/E ratio of 17.02, a PEG ratio of 1.69 and a beta of 1.59. The company has a 50 day moving average price of $140.91 and a 200 day moving average price of $123.77. Apollo Global Management, Inc. has a fifty-two week low of $87.85 and a fifty-two week high of $169.15.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a dividend of $0.463 per share. 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 1.14%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Wall Street Analysts Forecast Growth

APO has been the subject of several research analyst reports. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Piper Sandler initiated coverage on shares of Apollo Global Management in a research report on Tuesday. They set an “overweight” rating and a $188.00 price target for the company. Finally, Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $155.05.

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.