YorkBridge Wealth Partners LLC raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO – Get Rating) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,217 shares of the financial services provider’s stock after purchasing an additional 2,323 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Apollo Global Management were worth $1,029,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of APO. Byrne Asset Management LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at about $25,000. Clearstead Advisors LLC bought a new stake in Apollo Global Management during the 4th quarter worth approximately $27,000. Parkside Financial Bank & Trust raised its stake in Apollo Global Management by 7,183.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 431 shares during the period. McIlrath & Eck LLC bought a new stake in Apollo Global Management during the 1st quarter worth approximately $28,000. Finally, Zions Bancorporation N.A. purchased a new stake in Apollo Global Management during the 1st quarter valued at approximately $30,000. 69.40% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. Bank of America upgraded Apollo Global Management from an “underperform” rating to a “neutral” rating in a report on Friday. They noted that the move was a valuation call. Morgan Stanley lifted their target price on Apollo Global Management from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 15th. Barclays began coverage on Apollo Global Management in a research report on Wednesday, August 31st. They issued an “overweight” rating and a $70.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Apollo Global Management from $91.00 to $87.00 in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.72.
Apollo Global Management Stock Down 2.2 %
Apollo Global Management (NYSE:APO – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Apollo Global Management had a positive return on equity of 42.48% and a negative net margin of 44.62%. During the same period in the prior year, the company earned $1.14 earnings per share. Research analysts forecast that Apollo Global Management, Inc. will post 5.17 earnings per share for the current fiscal year.
Apollo Global Management Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Thursday, August 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Wednesday, August 17th. Apollo Global Management’s payout ratio is currently -51.45%.
Insider Buying and Selling at Apollo Global Management
In other Apollo Global Management news, CFO Martin Kelly sold 20,000 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $60.86, for a total transaction of $1,217,200.00. Following the completion of the transaction, the chief financial officer now directly owns 484,275 shares of the company’s stock, valued at approximately $29,472,976.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Walter Joseph Clayton III acquired 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, August 30th. The stock was acquired at an average cost of $56.07 per share, with a total value of $280,350.00. Following the purchase, the director now directly owns 29,737 shares in the company, valued at approximately $1,667,353.59. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 20,000 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $60.86, for a total value of $1,217,200.00. Following the sale, the chief financial officer now directly owns 484,275 shares of the company’s stock, valued at $29,472,976.50. The disclosure for this sale can be found here. 15.40% 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 and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
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