Golden State Equity Partners Cuts Stake in Apollo Global Management, Inc. (NYSE:APO)

Golden State Equity Partners reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,684 shares of the financial services provider’s stock after selling 520 shares during the period. Golden State Equity Partners’ holdings in Apollo Global Management were worth $335,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Great Diamond Partners LLC purchased a new position in Apollo Global Management in the third quarter valued at approximately $537,000. Diversify Advisory Services LLC purchased a new position in Apollo Global Management in the third quarter valued at approximately $181,000. abrdn plc raised its holdings in Apollo Global Management by 41.3% in the third quarter. abrdn plc now owns 200,226 shares of the financial services provider’s stock valued at $24,977,000 after buying an additional 58,485 shares during the period. Autumn Glory Partners LLC purchased a new position in Apollo Global Management in the third quarter valued at approximately $255,000. Finally, Smithbridge Asset Management Inc. DE raised its holdings in Apollo Global Management by 47.5% in the third quarter. Smithbridge Asset Management Inc. DE now owns 105,904 shares of the financial services provider’s stock valued at $13,228,000 after buying an additional 34,083 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $145.93 on Thursday. The company has a market cap of $82.91 billion, a PE ratio of 16.16, a P/E/G ratio of 1.39 and a beta of 1.62. The company has a fifty day moving average price of $126.66 and a two-hundred day moving average price of $118.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $147.04.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 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 prior year, the firm earned $1.54 EPS. Research analysts expect that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on APO. UBS Group raised their price target on shares of Apollo Global Management from $117.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wolfe Research assumed coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. Barclays increased their price objective on shares of Apollo Global Management from $128.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price objective on shares of 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 issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $139.56.

Insiders Place Their Bets

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 purchased at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

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.