Stock Yards Bank & Trust Co. Makes New $709,000 Investment in Apollo Global Management Inc. $APO

Stock Yards Bank & Trust Co. acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the second quarter, HoldingsChannel reports. The fund acquired 4,998 shares of the financial services provider’s stock, valued at approximately $709,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC grew its holdings in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. ORG Partners LLC grew its holdings in Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in Apollo Global Management during the 1st quarter worth about $39,000. Rise Advisors LLC bought a new stake in Apollo Global Management during the 1st quarter worth about $42,000. Finally, Meeder Asset Management Inc. grew its holdings in Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO 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 P/E/G ratio of 1.35 and a beta of 1.68. The firm’s 50 day simple moving average is $138.35 and its 200 day simple moving average is $136.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. The business 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 last year, the company posted $1.64 EPS. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 935,000 shares of company stock worth $125,543,790. Company insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a research note on Saturday, September 27th. Citigroup raised their target price 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. Barclays raised their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company raised their target price 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. One research 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. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $164.07.

Apollo Global Management Company Profile

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.