Hilltop National Bank Acquires Shares of 2,876 Apollo Global Management Inc. $APO

Hilltop National Bank acquired a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,876 shares of the financial services provider’s stock, valued at approximately $408,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Triad Wealth Partners LLC acquired a new position in shares of Apollo Global Management in the second quarter valued at $254,000. ASR Vermogensbeheer N.V. grew its stake in shares of Apollo Global Management by 583.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 236,848 shares of the financial services provider’s stock valued at $33,601,000 after acquiring an additional 202,195 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Apollo Global Management by 70.0% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 298 shares in the last quarter. Marino Stram & Associates LLC grew its stake in shares of Apollo Global Management by 141.4% in the second quarter. Marino Stram & Associates LLC now owns 3,761 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 2,203 shares in the last quarter. Finally, Childress Capital Advisors LLC grew its stake in shares of Apollo Global Management by 16.7% in the second quarter. Childress Capital Advisors LLC now owns 1,735 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 248 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APO has been the topic of several research reports. Citigroup upped their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Friday. They issued a “market perform” rating and a $132.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Barclays increased their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $164.07.

Apollo Global Management Trading Down 1.1%

Shares of Apollo Global Management stock opened at $125.81 on Friday. The company has a market capitalization of $71.97 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.37 and a beta of 1.68. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The firm’s 50-day moving average price is $138.35 and its two-hundred day moving average price is $137.03.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the company posted $1.64 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio is 38.13%.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.