Commerce Bank purchased a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,947 shares of the financial services provider's stock, valued at approximately $1,295,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management in the 4th quarter valued at approximately $29,000. Osbon Capital Management LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $36,000. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. MBM Wealth Consultants LLC purchased a new stake in Apollo Global Management during the 1st quarter worth about $29,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in Apollo Global Management in the 2nd quarter valued at about $31,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.
Apollo Global Management Price Performance
Apollo Global Management stock opened at $133.27 on Wednesday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a 50 day moving average price of $126.46 and a 200 day moving average price of $122.72. The company has a market cap of $78.70 billion, a price-to-earnings ratio of 48.82, a PEG ratio of 1.20 and a beta of 1.51.
Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the business earned $1.92 EPS. Sell-side analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.
Apollo Global Management Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's payout ratio is 82.42%.
Analyst Upgrades and Downgrades
APO has been the topic of several analyst reports. HSBC assumed coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a "buy" rating and a $145.00 price target on the stock. Weiss Ratings raised shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Piper Sandler decreased their target price on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus price target of $152.77.
View Our Latest Stock Report on Apollo Global Management
Apollo Global Management Company Profile
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Free Report)
Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
See Also
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