Applied Finance Capital Management LLC Purchases New Shares in Apollo Global Management Inc. $APO

Applied Finance Capital Management LLC purchased a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 8,624 shares of the financial services provider’s stock, valued at approximately $1,223,000.

Several other institutional investors and hedge funds have also modified their holdings of APO. Boston Partners acquired a new position in shares of Apollo Global Management in the first quarter valued at about $370,543,000. Nuveen LLC acquired a new position in shares of Apollo Global Management in the first quarter valued at about $342,335,000. Vanguard Group Inc. grew its stake 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 worth $6,303,186,000 after buying an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 worth $490,482,000 after buying an additional 706,181 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake 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 worth $338,737,000 after buying an additional 613,124 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on APO. Barclays reduced their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. BMO Capital Markets began coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Finally, Citigroup reduced their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.14.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of the firm’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 transaction, the insider owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Stock Down 5.4%

APO stock opened at $120.86 on Friday. The stock has a market capitalization of $69.14 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. 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 Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The firm has a 50-day moving average price of $134.68 and a 200-day moving average price of $135.85.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio is 38.13%.

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.