Apollo Global Management Inc. $APO Shares Purchased by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC lifted its holdings in Apollo Global Management Inc. (NYSE:APO) by 5,200.0% during the second quarter, Holdings Channel reports. The fund owned 265 shares of the financial services provider’s stock after buying an additional 260 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Apollo Global Management were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. Boston Partners acquired a new stake in Apollo Global Management during the first quarter valued at $370,543,000. Nuveen LLC acquired a new stake in Apollo Global Management during the first quarter valued at $342,335,000. Vanguard Group Inc. grew its position in Apollo Global Management by 2.0% during the first 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. grew its position in Apollo Global Management by 24.6% during the first 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. grew its position in Apollo Global Management by 33.0% during the first 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. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $125.81 on Friday. The company’s 50 day simple moving average is $138.35 and its 200-day simple moving average is $136.99. The company has a market capitalization of $71.97 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. 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 released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) 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 in the previous year, the firm 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 business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid 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 of this dividend was Monday, August 18th. Apollo Global Management’s payout ratio is 38.13%.

Insider Activity

In other news, insider Whitney Chatterjee sold 4,500 shares of the business’s 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 of the company’s stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $122,637,450.00. Following the completion of the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% 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 valued at $125,543,790. Company insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

APO has been the topic of several analyst reports. Wells Fargo & Company raised their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research report on Saturday, September 27th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday. Citigroup lifted 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. Finally, Evercore ISI lifted 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $164.07.

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.