17,643 Shares in Apollo Global Management Inc. $APO Purchased by Sigma Investment Counselors Inc.

Key Points

• Sigma Investment Counselors Inc. acquired 17,643 shares of Apollo Global Management valued at approximately $2.5 million in the second quarter.
• Several hedge funds have significantly increased their stakes in Apollo, with one firm growing its position by 6,900% during the same period.
• Analysts have mixed ratings on Apollo, with Barclays lowering its target price from $168 to $147 while Wells Fargo increased it from $160 to $173.

Sigma Investment Counselors Inc. purchased a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 17,643 shares of the financial services provider's stock, valued at approximately $2,503,000.

Other hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC grew its stake in shares of Apollo Global Management by 84.5% during 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 period. Activest Wealth Management grew its position 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 valued at $28,000 after buying an additional 175 shares during the period. Rosenberg Matthew Hamilton grew its position in Apollo Global Management by 6,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider's stock valued at $30,000 after buying an additional 207 shares during the period. ORG Partners LLC increased its holdings in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC raised its position in shares of Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after acquiring an additional 260 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APO. Barclays dropped their target price on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen cut Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Wells Fargo & Company increased their target price on 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 reissued a "hold (c)" rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Finally, Citigroup reduced their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $161.14.

Apollo Global Management Stock Up 0.6%

NYSE APO opened at $121.55 on Friday. The business has a fifty day moving average price of $134.27 and a 200 day moving average price of $135.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $69.53 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.39 and a beta of 1.68. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for 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 previous year, the company posted $1.64 EPS. Research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 in the last ninety days. Insiders own 8.20% of the company's stock.

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.

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