Ancora Advisors LLC Purchases New Position in Apollo Global Management Inc. $APO

Key Points

• Ancora Advisors initiated a position in Apollo Global Management during the second quarter, buying 57,827 shares valued at approximately $6.84 million. Institutional investors collectively own 77.06% of Apollo’s stock.
• Analysts remain broadly positive, with Apollo holding a consensus “Moderate Buy” rating and an average price target of $152.77. Recent target changes included Barclays raising its target to $157, while Morgan Stanley lowered its target slightly to $164.
• Apollo reported quarterly adjusted EPS of $2.11, below the $2.16 consensus estimate, and revenue of $5.57 billion versus expectations of $5.65 billion. The company also announced a quarterly dividend of $0.5625 per share, equivalent to a 1.7% yield.

Ancora Advisors LLC purchased a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 57,827 shares of the financial services provider's stock, valued at approximately $6,841,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter worth $29,000. Steigerwald Gordon & Koch Inc. grew its position in shares of Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock worth $29,000 after buying an additional 213 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in shares of Apollo Global Management during the second quarter valued at $31,000. Finally, Osbon Capital Management LLC bought a new position in Apollo Global Management during the 4th quarter worth about $36,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley dropped their target price on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Barclays boosted their target price on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and an average target price of $152.77.

Apollo Global Management Stock Performance

Shares of APO opened at $133.27 on Wednesday. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The stock has a market cap of $78.70 billion, a P/E ratio of 48.82, a P/E/G ratio of 1.20 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a 50-day moving average of $126.46 and a two-hundred day moving average of $122.72.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm earned $1.92 EPS. As a group, research analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is 82.42%.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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