DAVENPORT & Co LLC lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,191 shares of the financial services provider's stock after purchasing an additional 3,496 shares during the period. DAVENPORT & Co LLC's holdings in Apollo Global Management were worth $5,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its holdings in Apollo Global Management by 27.6% during the second quarter. Iron Horse Wealth Management LLC now owns 2,489 shares of the financial services provider's stock worth $353,000 after buying an additional 539 shares in the last quarter. Bay Harbor Wealth Management LLC boosted its holdings in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after buying an additional 260 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Apollo Global Management by 6.3% during the second quarter. QRG Capital Management Inc. now owns 33,086 shares of the financial services provider's stock worth $4,694,000 after buying an additional 1,955 shares in the last quarter. Segment Wealth Management LLC boosted its holdings in Apollo Global Management by 155.4% during the second quarter. Segment Wealth Management LLC now owns 160,149 shares of the financial services provider's stock worth $22,720,000 after buying an additional 97,456 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new stake in Apollo Global Management during the second quarter worth $709,000. 77.06% of the stock is owned by hedge funds and other institutional investors.
Apollo Global Management Price Performance
Apollo Global Management stock opened at $125.91 on Wednesday. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The firm has a market capitalization of $72.02 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.36 and a beta of 1.68. The company has a fifty day simple moving average of $137.46 and a 200-day simple moving average of $136.74. 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 (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.
Apollo Global Management Dividend Announcement
The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management's dividend payout ratio is presently 38.13%.
Insider Transactions at Apollo Global Management
In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock valued at $125,543,790 over the last 90 days. 8.50% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on APO. Piper Sandler reissued an "overweight" rating on shares of Apollo Global Management in a report on Tuesday. Barclays upped their price objective 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. Evercore ISI upped their price objective 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. Wells Fargo & Company upped 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. Finally, BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a "market perform" rating and a $132.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $164.07.
View Our Latest Analysis on APO
About Apollo Global Management
(
Free Report)
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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