Verdence Capital Advisors LLC Has $6.91 Million Stock Position in Apollo Global Management Inc. $APO

Verdence Capital Advisors LLC increased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 21.6% in the second quarter, HoldingsChannel reports. The firm owned 48,717 shares of the financial services provider’s stock after purchasing an additional 8,652 shares during the period. Verdence Capital Advisors LLC’s holdings in Apollo Global Management were worth $6,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in APO. 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. Bay Harbor Wealth Management LLC grew its holdings in Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 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. Finally, Rise Advisors LLC bought a new stake in Apollo Global Management during the 1st quarter worth about $42,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $118.34 on Monday. The company has a market capitalization of $67.69 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.29 and a beta of 1.68. The firm’s 50 day simple moving average is $136.21 and its 200 day simple moving average is $136.18. 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 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on APO shares. Barclays decreased their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Citigroup upped 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 report on Thursday, July 10th. Evercore ISI upped 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 report on Wednesday, August 6th. Finally, BMO Capital Markets began coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $162.57.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock worth $125,543,790 in the last ninety days. Company insiders own 8.50% of the company’s stock.

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.