Alliancebernstein L.P. Raises Holdings in Apollo Global Management Inc. $APO

Key Points

• Alliancebernstein L.P. raised its holdings in Apollo Global Management Inc. by 33% in Q1, acquiring an additional 613,124 shares, bringing its total to 2,473,614 shares valued at $338.7 million.
• Apollo Global Management reported an EPS of $1.92 in its latest quarter, exceeding analysts' expectations of $1.84, alongside a revenue of $6.55 billion.
• The company declared a quarterly dividend of $0.51 per share, reflecting an annual yield of 1.5%, with a current dividend payout ratio of 38.13%.

Alliancebernstein L.P. raised its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 33.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,473,614 shares of the financial services provider's stock after acquiring an additional 613,124 shares during the quarter. Alliancebernstein L.P. owned approximately 0.43% of Apollo Global Management worth $338,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management in the 4th quarter valued at about $25,000. GW&K Investment Management LLC lifted its holdings in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the period. ORG Partners LLC grew its holdings in Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Apollo Global Management during the first quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. raised its position in shares of Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of NYSE APO traded down $0.44 during trading on Tuesday, hitting $134.01. The company had a trading volume of 1,648,112 shares, compared to its average volume of 3,588,531. The firm has a market capitalization of $76.65 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69. The stock has a fifty day simple moving average of $142.50 and a two-hundred day simple moving average of $137.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data 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. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $1.64 EPS. On average, research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared 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 of this dividend was Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APO. Wells Fargo & Company lifted their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. 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 report on Wednesday, August 6th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup boosted 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. Finally, Barclays raised their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.56.

Insider Activity at Apollo Global Management

In other news, 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 completion of the sale, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 935,000 shares of company stock worth $125,543,790. 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.