Bay Colony Advisory Group Inc d b a Bay Colony Advisors Trims Position in Apollo Global Management LLC (APO)

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Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its holdings in shares of Apollo Global Management LLC (NYSE:APO) by 7.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,710 shares of the financial services provider’s stock after selling 1,671 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Apollo Global Management were worth $681,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. FMR LLC boosted its position in Apollo Global Management by 39.2% during the second quarter. FMR LLC now owns 11,247,406 shares of the financial services provider’s stock worth $358,455,000 after purchasing an additional 3,164,974 shares during the period. Morgan Stanley boosted its position in Apollo Global Management by 15.4% during the second quarter. Morgan Stanley now owns 5,536,056 shares of the financial services provider’s stock worth $176,434,000 after purchasing an additional 737,410 shares during the period. Beck Mack & Oliver LLC boosted its position in Apollo Global Management by 19.4% during the third quarter. Beck Mack & Oliver LLC now owns 3,794,769 shares of the financial services provider’s stock worth $131,109,000 after purchasing an additional 617,566 shares during the period. Bank of Montreal Can boosted its position in Apollo Global Management by 165.6% during the second quarter. Bank of Montreal Can now owns 3,722,810 shares of the financial services provider’s stock worth $118,646,000 after purchasing an additional 2,321,200 shares during the period. Finally, Natixis bought a new position in Apollo Global Management during the second quarter worth about $75,557,000. Hedge funds and other institutional investors own 73.81% of the company’s stock.

APO stock opened at $30.62 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05. Apollo Global Management LLC has a 12 month low of $28.00 and a 12 month high of $37.35. The company has a market capitalization of $5.96 billion, a PE ratio of 8.58, a PEG ratio of 2.14 and a beta of 1.22.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). Apollo Global Management had a net margin of 19.45% and a return on equity of 44.08%. The firm had revenue of $497.16 million during the quarter, compared to the consensus estimate of $596.75 million. During the same quarter last year, the business posted $1.07 earnings per share. Apollo Global Management’s revenue was down 28.3% compared to the same quarter last year. Equities research analysts predict that Apollo Global Management LLC will post 1.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be given a $0.46 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date is Monday, November 19th. Apollo Global Management’s dividend payout ratio (DPR) is 48.18%.

In other news, major shareholder Tiger Global Management Llc acquired 102,193 shares of the business’s stock in a transaction dated Thursday, October 25th. The stock was bought at an average cost of $28.46 per share, for a total transaction of $2,908,412.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.11% of the stock is currently owned by company insiders.

A number of equities analysts have weighed in on the stock. Citigroup cut their target price on shares of Apollo Global Management from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. ValuEngine lowered shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Oppenheimer set a $43.00 target price on shares of Apollo Global Management and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Morgan Stanley increased their target price on shares of Apollo Global Management from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Finally, Goldman Sachs Group upgraded shares of Apollo Global Management from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 1st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Apollo Global Management presently has a consensus rating of “Buy” and an average target price of $39.38.

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Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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