Harbour Investments Inc. Grows Stock Holdings in Apollo Global Management Inc. $APO

Harbour Investments Inc. boosted its position in Apollo Global Management Inc. (NYSE:APO) by 71.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 782 shares of the financial services provider’s stock after purchasing an additional 326 shares during the period. Harbour Investments Inc.’s holdings in Apollo Global Management were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in APO. GAMMA Investing LLC lifted its position in Apollo Global Management by 61.8% in the first quarter. GAMMA Investing LLC now owns 4,478 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 1,710 shares during the period. Asset Management One Co. Ltd. lifted its position in Apollo Global Management by 6.0% in the first quarter. Asset Management One Co. Ltd. now owns 171,195 shares of the financial services provider’s stock valued at $23,443,000 after purchasing an additional 9,732 shares during the period. Perigon Wealth Management LLC lifted its position in Apollo Global Management by 6.9% in the first quarter. Perigon Wealth Management LLC now owns 5,513 shares of the financial services provider’s stock valued at $755,000 after purchasing an additional 354 shares during the period. SOL Capital Management CO lifted its position in Apollo Global Management by 12.0% in the first quarter. SOL Capital Management CO now owns 84,952 shares of the financial services provider’s stock valued at $11,633,000 after purchasing an additional 9,122 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Apollo Global Management by 71.7% in the first quarter. Sequoia Financial Advisors LLC now owns 74,136 shares of the financial services provider’s stock valued at $10,152,000 after purchasing an additional 30,967 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 2.8%

Shares of Apollo Global Management stock opened at $122.97 on Friday. 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 1 year low of $102.58 and a 1 year high of $189.49. The company has a market capitalization of $70.34 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.45 and a beta of 1.68. The business has a 50 day moving average price of $132.91 and a 200 day moving average price of $135.85.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) 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 the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $1.64 EPS. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Martin Kelly sold 15,500 shares of Apollo Global Management 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 completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred 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 transaction, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock worth $125,543,790 in the last ninety days. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APO. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Barclays reduced their price target on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Citigroup reduced their price target 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, October 13th. Morgan Stanley reduced their price target on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Evercore ISI lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.57.

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.