Apollo Global Management Inc. $APO Shares Acquired by Jackson Hole Capital Partners LLC

Key Points

• Jackson Hole Capital Partners LLC increased its stake in Apollo Global Management by 4.6% in Q2, now holding 71,291 shares valued at approximately $10.1 million.
• During Q1, several institutional investors including Boston Partners and Vanguard Group significantly added to their positions, with Vanguard owning over 46 million shares valued at approximately $6.3 billion.
• Recent insider trading included a substantial sale by Leon D. Black of 915,000 shares worth over $122 million, decreasing his ownership by 16.82%.

Jackson Hole Capital Partners LLC boosted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,291 shares of the financial services provider's stock after acquiring an additional 3,163 shares during the quarter. Apollo Global Management comprises about 1.9% of Jackson Hole Capital Partners LLC's holdings, making the stock its 9th largest holding. Jackson Hole Capital Partners LLC's holdings in Apollo Global Management were worth $10,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners bought a new stake in Apollo Global Management during the first quarter valued at $370,543,000. Nuveen LLC bought a new stake in Apollo Global Management during the 1st quarter valued at $342,335,000. Vanguard Group Inc. grew its position in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after buying an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after buying an additional 706,181 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Apollo Global Management by 33.0% during the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider's stock valued at $338,737,000 after acquiring an additional 613,124 shares during the period. Institutional investors own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction on 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of Apollo Global Management from $154.00 to $151.00 and set an "equal weight" rating for the company in a report on Tuesday. Citigroup dropped their target price on Apollo Global Management from $170.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, October 13th. Barclays cut their price objective on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Apollo Global Management from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. One equities 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $162.57.

Apollo Global Management Price Performance

Shares of APO stock opened at $122.97 on Friday. The firm has a market cap of $70.34 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.45 and a beta of 1.68. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $132.91 and a 200 day moving average price of $135.85.

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 for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $1.64 EPS. Research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

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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