AG2R LA Mondiale Gestion D Actifs Takes $1.97 Million Position in Apollo Global Management Inc. $APO

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new stake in Apollo Global Management worth approximately $1.97 million, buying 15,075 shares in the first quarter.
• Insider Leon D. Black sold 915,000 shares of Apollo stock for over $122 million, resulting in a 16.82% decrease in his ownership.
• Apollo recently declared a quarterly dividend of $0.51 per share, yielding an annualized rate of 1.5% and maintaining a dividend payout ratio of 38.13%.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,075 shares of the financial services provider's stock, valued at approximately $1,970,000.

Several other hedge funds have also recently made changes to their positions in APO. Vivaldi Capital Management LP grew its stake in Apollo Global Management by 2.1% in the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock worth $566,000 after purchasing an additional 71 shares during the period. Y.D. More Investments Ltd grew its stake in Apollo Global Management by 14.4% in the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock worth $85,000 after purchasing an additional 78 shares during the period. Walled Lake Planning & Wealth Management LLC grew its stake in Apollo Global Management by 3.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock worth $345,000 after purchasing an additional 80 shares during the period. GW&K Investment Management LLC grew its stake in Apollo Global Management by 84.5% in the first 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. Finally, CVA Family Office LLC grew its stake in Apollo Global Management by 19.7% in the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock worth $73,000 after purchasing an additional 88 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of the company'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 directly owned 4,526,000 shares of the company's stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock valued at $125,543,790 over the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Trading Up 1.2%

NYSE APO opened at $138.10 on Friday. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a market cap of $79.00 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.47 and a beta of 1.69. The stock's fifty day moving average price is $141.88 and its 200-day moving average price is $137.07. 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 announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $1.64 earnings per share. As a group, equities analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio is presently 38.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APO shares. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Citigroup upped their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Barclays upped their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average target price of $164.56.

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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