Wealth Quarterback LLC Acquires New Position in Apollo Global Management Inc. $APO

Wealth Quarterback LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, HoldingsChannel reports. The fund acquired 3,837 shares of the financial services provider’s stock, valued at approximately $544,000.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. GW&K Investment Management LLC boosted its position 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 worth $26,000 after purchasing an additional 87 shares during the last quarter. Activest Wealth Management boosted its holdings in Apollo Global Management by 875.0% during the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after buying an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in shares of Apollo Global Management by 6,900.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the period. Andra AP fonden acquired a new position in shares of Apollo Global Management during the 2nd quarter worth about $31,000. Finally, Bay Harbor Wealth Management LLC increased 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 acquiring an additional 260 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 1.5%

APO stock opened at $132.90 on Wednesday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company has a market capitalization of $76.02 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The company’s 50-day simple moving average is $130.78 and its 200 day simple moving average is $136.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.24. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of Apollo Global Management 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 directly owned 4,526,000 shares of the company’s stock, valued at $606,619,780. The trade was a 16.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APO. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. BMO Capital Markets began 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 for the company. Barclays upped their price objective on shares of Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Citigroup reduced their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.00.

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.