Apollon Wealth Management LLC Grows Stake in Apollo Global Management Inc. $APO

Apollon Wealth Management LLC grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,209 shares of the financial services provider’s stock after buying an additional 234 shares during the quarter. Apollon Wealth Management LLC’s holdings in Apollo Global Management were worth $4,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GW&K Investment Management LLC lifted its stake in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. ORG Partners LLC lifted its stake in shares of Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 171 shares during the period. Bay Harbor Wealth Management LLC lifted its stake in shares of Apollo Global Management by 5,200.0% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 260 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in shares of Apollo Global Management in the 1st quarter valued at approximately $39,000. Finally, Rise Advisors LLC purchased a new position in shares of Apollo Global Management in the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 4.2%

Shares of NYSE:APO opened at $118.34 on Friday. The stock has a fifty day simple moving average of $136.21 and a two-hundred day simple moving average of $136.22. The stock has a market capitalization of $67.69 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.28 and a beta of 1.68. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

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

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is currently 38.13%.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was 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 in the company, valued at $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company’s stock, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock worth $125,543,790 over the last quarter. 8.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BMO Capital Markets assumed coverage on Apollo Global Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $132.00 target price for the company. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday. Evercore ISI raised their target price on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday. Finally, Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. 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 stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $162.57.

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.