Staley Capital Advisers Inc. Makes New Investment in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Staley Capital Advisers Inc. purchased 6,300 shares of Apollo Global Management Inc. for approximately $863,000 in the first quarter, reflecting increased institutional interest in the company.
• Insider Whitney Chatterjee sold 4,500 shares at an average price of $146.03, reducing their ownership by 5.13% while retaining 83,192 shares valued at over $12 million.
• Apollo Global Management reported $1.92 earnings per share for its latest quarter, surpassing analysts' expectations of $1.84, alongside a recently declared dividend of $0.51 per share.

Staley Capital Advisers Inc. acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 6,300 shares of the financial services provider's stock, valued at approximately $863,000.

A number of other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Apollo Global Management during the 1st quarter valued at $342,335,000. MSA Advisors LLC raised its position in shares of Apollo Global Management by 12.4% during the 1st quarter. MSA Advisors LLC now owns 930,702 shares of the financial services provider's stock valued at $127,450,000 after acquiring an additional 102,730 shares during the last quarter. True North Advisors LLC bought a new position in shares of Apollo Global Management during the first quarter worth $2,097,000. Cynosure Group LLC boosted its position in shares of Apollo Global Management by 49.4% during the first quarter. Cynosure Group LLC now owns 2,458 shares of the financial services provider's stock worth $337,000 after purchasing an additional 813 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in shares of Apollo Global Management by 15.3% during the first quarter. Townsquare Capital LLC now owns 11,196 shares of the financial services provider's stock worth $1,533,000 after purchasing an additional 1,483 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Evercore ISI lifted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Barclays lifted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $161.26.

Insiders Place Their Bets

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction 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 completion of the transaction, the insider owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company's stock.

Apollo Global Management Stock Up 1.8%

Apollo Global Management stock traded up $2.51 during mid-day trading on Tuesday, reaching $144.63. The company's stock had a trading volume of 2,913,189 shares, compared to its average volume of 3,064,792. The company has a market capitalization of $82.66 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The business's 50 day simple moving average is $142.32 and its 200 day simple moving average is $141.02. 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 - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during 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 quarter last year, the firm earned $1.64 earnings per share. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

Apollo Global Management Company 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.