Belmont Capital LLC Buys 3,545 Shares of Apollo Global Management Inc. $APO

Key Points

• Belmont Capital LLC increased its holdings in Apollo Global Management by 4% in Q1, now owning 92,607 shares worth approximately $12.68 million, making it their 9th largest holding.
• Analysts have raised their price targets for Apollo Global Management, with Citigroup setting a new target at $170.00 and Wells Fargo increasing theirs to $173.00, indicating strong market confidence.
• The company recently announced a dividend payout of $0.51 per share, representing an annualized yield of 1.5% with a payout ratio of 38.13%.

Belmont Capital LLC raised its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,607 shares of the financial services provider's stock after purchasing an additional 3,545 shares during the period. Apollo Global Management accounts for approximately 2.3% of Belmont Capital LLC's investment portfolio, making the stock its 9th biggest position. Belmont Capital LLC's holdings in Apollo Global Management were worth $12,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock valued at $75,347,000 after purchasing an additional 7,441 shares during the last quarter. Clearview Wealth Advisors LLC increased its position in Apollo Global Management by 420.7% during the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after acquiring an additional 17,418 shares during the period. Toronto Dominion Bank increased its position in Apollo Global Management by 209.0% during the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after acquiring an additional 110,014 shares during the period. Sowell Financial Services LLC bought a new position in Apollo Global Management during the first quarter worth about $871,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Apollo Global Management during the first quarter worth about $492,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. 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 research report on Thursday, July 10th. Citigroup raised their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Evercore ISI raised their price target 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. Finally, Wells Fargo & Company raised their price target 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $164.56.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred 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 owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% 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 business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.

Apollo Global Management Price Performance

Apollo Global Management stock traded down $3.25 during trading hours on Friday, reaching $131.51. 4,520,545 shares of the stock were exchanged, compared to its average volume of 3,101,840. The stock has a 50 day moving average of $142.65 and a two-hundred day moving average of $137.49. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $75.23 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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 company 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. Equities analysts expect 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. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.6%. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

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.