4,973 Shares in Apollo Global Management Inc. $APO Bought by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC purchased 4,973 shares of Apollo Global Management Inc. for approximately $706,000, indicating confidence in the financial services provider's growth potential.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, resulting in an annualized dividend of $2.04 and a yield of 1.5%.
• Wells Fargo and Citigroup raised their price targets for Apollo Global Management from $160.00 to $173.00 and from $160.00 to $170.00, respectively, reflecting positive analyst sentiment towards the company's future performance.

GC Wealth Management RIA LLC bought a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,973 shares of the financial services provider's stock, valued at approximately $706,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after purchasing an additional 7,441 shares during the period. Clearview Wealth Advisors LLC lifted its holdings in shares of Apollo Global Management by 420.7% during the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after acquiring an additional 17,418 shares during the period. Sowell Financial Services LLC bought a new position in shares of Apollo Global Management during the first quarter valued at $871,000. Elevation Point Wealth Partners LLC bought a new position in shares of Apollo Global Management during the first quarter valued at $492,000. Finally, True North Advisors LLC bought a new position in shares of Apollo Global Management during the first quarter valued at $2,097,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $133.38 on Wednesday. The firm has a market capitalization of $76.29 billion, a P/E ratio of 24.93, a PEG ratio of 1.49 and a beta of 1.69. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The business has a 50-day moving average of $139.78 and a 200-day moving average of $137.24. 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 (NYSE:APO - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the previous year, the company earned $1.64 EPS. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current 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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. The trade was a 16.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Citigroup lifted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Barclays lifted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Evercore ISI lifted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.27.

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.

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