Investors Purchase High Volume of Call Options on Apollo Global Management (APO)

Apollo Global Management LLC (NYSE:APO) saw unusually large options trading activity on Thursday. Traders purchased 4,568 call options on the company. This is an increase of 1,056% compared to the average daily volume of 395 call options.

Several research firms have recently weighed in on APO. Zacks Investment Research raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine raised shares of Apollo Global Management from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Credit Suisse Group lifted their target price on shares of Apollo Global Management from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, September 21st. Goldman Sachs Group raised shares of Apollo Global Management from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 1st. Finally, Morgan Stanley set a $42.00 target price on shares of Apollo Global Management and gave the company a “buy” rating in a report on Tuesday, August 14th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $38.38.

In other news, Director A B. Krongard bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Tiger Global Management Llc bought 135,700 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were purchased at an average cost of $26.49 per share, with a total value of $3,594,693.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,291,817 shares of company stock valued at $64,966,199 over the last three months. 4.11% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Apollo Global Management by 39.2% in the 2nd quarter. FMR LLC now owns 11,247,406 shares of the financial services provider’s stock valued at $358,455,000 after acquiring an additional 3,164,974 shares during the period. Morgan Stanley grew its stake in Apollo Global Management by 15.4% in the 2nd quarter. Morgan Stanley now owns 5,536,056 shares of the financial services provider’s stock valued at $176,434,000 after acquiring an additional 737,410 shares during the period. Beck Mack & Oliver LLC grew its stake in Apollo Global Management by 19.4% in the 3rd quarter. Beck Mack & Oliver LLC now owns 3,794,769 shares of the financial services provider’s stock valued at $131,109,000 after acquiring an additional 617,566 shares during the period. Natixis acquired a new stake in Apollo Global Management in the 2nd quarter valued at $75,557,000. Finally, Capital International Investors acquired a new stake in Apollo Global Management in the 3rd quarter valued at $71,968,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management stock opened at $26.09 on Friday. Apollo Global Management has a 1 year low of $25.65 and a 1 year high of $37.35. The firm has a market capitalization of $5.33 billion, a P/E ratio of 7.31, a P/E/G ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.05.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.83 earnings per share (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 43.98%. The company had revenue of $497.16 million during the quarter, compared to analyst estimates of $596.75 million. During the same period in the prior year, the business posted $1.07 EPS. Apollo Global Management’s revenue was down 28.3% compared to the same quarter last year. As a group, analysts forecast that Apollo Global Management will post 1.18 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $1.84 dividend on an annualized basis and a yield of 7.05%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is currently 51.54%.

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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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