Apollo Global Management Inc. $APO Shares Purchased by Spinnaker Trust

Spinnaker Trust increased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 110.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 37,669 shares of the financial services provider’s stock after acquiring an additional 19,745 shares during the period. Spinnaker Trust’s holdings in Apollo Global Management were worth $5,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Alta Advisers Ltd lifted its position in Apollo Global Management by 60.2% during the 1st quarter. Alta Advisers Ltd now owns 2,396 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 900 shares in the last quarter. Mather Group LLC. lifted its position in Apollo Global Management by 1,161.6% during the 1st quarter. Mather Group LLC. now owns 921 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 848 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Apollo Global Management by 79.7% during the 1st quarter. Vontobel Holding Ltd. now owns 17,281 shares of the financial services provider’s stock worth $2,366,000 after acquiring an additional 7,664 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Apollo Global Management by 1.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 47,719 shares of the financial services provider’s stock worth $6,535,000 after acquiring an additional 887 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in Apollo Global Management by 97.1% during the 1st quarter. DAVENPORT & Co LLC now owns 36,695 shares of the financial services provider’s stock worth $5,025,000 after acquiring an additional 18,073 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Martin Kelly sold 15,500 shares of the business’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 value of $2,249,205.00. Following the completion of the sale, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $124.83 on Thursday. 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. The company has a market capitalization of $71.40 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. The business has a 50 day simple moving average of $131.90 and a 200-day simple moving average of $136.16.

Apollo Global Management (NYSE:APO) last issued 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 return on equity of 13.38% and a net margin of 13.25%.The business 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 business earned $1.64 EPS. As a group, equities research analysts expect 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. Stockholders of record on Monday, August 18th were issued 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 payout ratio is 38.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. BMO Capital Markets initiated coverage on Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Morgan Stanley dropped their price objective on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, Barclays dropped their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. One equities 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.