Neuberger Berman Group LLC lowered its position in shares of Apollo Global Management, LLC (NYSE:APO) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,020 shares of the financial services provider’s stock after selling 12,600 shares during the quarter. Neuberger Berman Group LLC owned 0.09% of Apollo Global Management worth $4,709,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its holdings in shares of Apollo Global Management by 231.6% during the first quarter. Oppenheimer & Co. Inc. now owns 96,491 shares of the financial services provider’s stock valued at $2,347,000 after acquiring an additional 67,388 shares during the period. Suntrust Banks Inc. acquired a new stake in shares of Apollo Global Management during the first quarter valued at approximately $1,049,000. BNP Paribas Arbitrage SA raised its holdings in shares of Apollo Global Management by 4,656.1% during the second quarter. BNP Paribas Arbitrage SA now owns 65,491 shares of the financial services provider’s stock valued at $1,732,000 after acquiring an additional 64,114 shares during the period. Apriem Advisors acquired a new stake in shares of Apollo Global Management during the second quarter valued at approximately $733,000. Finally, Rothschild Investment Corp IL acquired a new stake in shares of Apollo Global Management during the second quarter valued at approximately $2,157,000. Institutional investors and hedge funds own 73.60% of the company’s stock.
In related news, Director Robert K. Kraft bought 30,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $28.88 per share, for a total transaction of $866,400.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Tiger Global Management Llc bought 249,968 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were bought at an average price of $27.68 per share, for a total transaction of $6,919,114.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,399,918 shares of company stock worth $39,210,819 over the last 90 days. Corporate insiders own 4.11% of the company’s stock.
A number of research firms have recently issued reports on APO. BidaskClub upgraded shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, July 3rd. Oppenheimer Holdings, Inc. boosted their price target on shares of Apollo Global Management from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) boosted their price target on shares of Apollo Global Management from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, June 7th. Finally, UBS AG restated a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Apollo Global Management in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Apollo Global Management has a consensus rating of “Buy” and a consensus target price of $28.90.
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Apollo Global Management, LLC (APO) opened at 28.96 on Wednesday. The company’s 50-day moving average is $29.00 and its 200-day moving average is $26.62. The stock has a market capitalization of $5.62 billion, a P/E ratio of 11.34 and a beta of 1.22. Apollo Global Management, LLC has a 12 month low of $17.38 and a 12 month high of $30.75.
Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $432.87 million for the quarter, compared to analyst estimates of $455.29 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The business’s quarterly revenue was down 34.5% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Equities analysts anticipate that Apollo Global Management, LLC will post $2.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.52 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend was Friday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is 81.25%.
Apollo Global Management Company Profile
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’s segments include private equity, credit and real estate.
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