Harbor Asset Planning Inc. Invests $103,000 in Apollo Global Management Inc. $APO

Harbor Asset Planning Inc. acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 726 shares of the financial services provider’s stock, valued at approximately $103,000.

Other hedge funds have also recently made changes to their positions in the company. Boston Partners purchased a new position in Apollo Global Management in the 1st quarter valued at approximately $370,543,000. Nuveen LLC purchased a new position in Apollo Global Management in the 1st quarter valued at approximately $342,335,000. Vanguard Group Inc. boosted its position in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after buying an additional 893,428 shares during the period. Goldman Sachs Group Inc. boosted its position in Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after buying an additional 706,181 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Apollo Global Management by 33.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock valued at $338,737,000 after buying an additional 613,124 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Barclays lowered their target price on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. BMO Capital Markets started coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Finally, Evercore ISI upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $161.14.

Apollo Global Management Price Performance

APO opened at $120.86 on Friday. The company has a fifty day simple moving average of $134.68 and a 200 day simple moving average of $135.85. The firm has a market cap of $69.14 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.46 and a beta of 1.68. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve 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 released 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. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.64 EPS. Equities research analysts expect that Apollo Global Management Inc. will post 8 EPS 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 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 presently 38.13%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% 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. 8.20% of the stock is currently owned by insiders.

Apollo Global Management 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.