Trade Report: Today: Sigma Planning Corp cuts position of Apollo Global Management LLC (APO)

Today: Sigma Planning Corp cuts position of Apollo Global Management LLC (APO)

Sigma Planning Corp reduced its position in shares of Apollo Global Management LLC (NYSE:APO) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,592 shares of the company’s stock after selling 2,171 shares during the period. Sigma Planning Corp’s holdings in Apollo Global Management were worth $549,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCI Wealth Advisors Inc. boosted its position in shares of Apollo Global Management by 2.0% in the third quarter. TCI Wealth Advisors Inc. now owns 6,307 shares of the company’s stock worth $113,000 after buying an additional 124 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of Apollo Global Management during the second quarter worth about $128,000. Stifel Financial Corp bought a new stake in shares of Apollo Global Management during the second quarter worth about $158,000. Veritable L.P. bought a new stake in shares of Apollo Global Management during the second quarter worth about $172,000. Finally, Societe Generale bought a new stake in shares of Apollo Global Management during the second quarter worth about $227,000.

Apollo Global Management LLC (NYSE:APO) opened at 20.00 on Monday. Apollo Global Management LLC has a 52-week low of $12.35 and a 52-week high of $20.01. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 15.90 and a beta of 1.77. The company’s 50-day moving average price is $18.46 and its 200 day moving average price is $17.39.

Apollo Global Management (NYSE:APO) last released its earnings results on Friday, October 28th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.12. The company had revenue of $660.45 million for the quarter, compared to analysts’ expectations of $429 million. Apollo Global Management’s revenue for the quarter was up 160.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, equities analysts expect that Apollo Global Management LLC will post $1.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 21st will be given a $0.35 dividend. The ex-dividend date is Thursday, November 17th. This represents a $1.40 annualized dividend and a dividend yield of 7.00%.

A number of analysts recently issued reports on the company. Deutsche Bank AG increased their price objective on Apollo Global Management from $15.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 4th. Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, November 11th. TheStreet cut Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, October 28th. JMP Securities increased their price objective on Apollo Global Management from $26.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, August 4th. Finally, Keefe, Bruyette & Woods raised Apollo Global Management from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $18.00 to $22.00 in a report on Thursday, August 4th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $20.51.

About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company operates through three segments: Private equity, Credit and Real estate.

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