Border to Coast Pensions Partnership Ltd Grows Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• Border to Coast Pensions Partnership Ltd increased its stake in Apollo Global Management by 6.3% in Q2, now owning 170,000 shares valued at approximately $24.1 million.
• Several analysts have raised their target prices for Apollo Global Management, with Citigroup and Wells Fargo setting new targets at $170 and $173 respectively, indicating a positive outlook on the stock.
• CFO Martin Kelly and insider Leon D. Black sold significant shares of Apollo Global Management, reducing their ownership positions by 4.46% and 16.82% respectively, amidst recent insider trading activity.

Border to Coast Pensions Partnership Ltd grew its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,000 shares of the financial services provider's stock after buying an additional 10,000 shares during the quarter. Border to Coast Pensions Partnership Ltd's holdings in Apollo Global Management were worth $24,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Woodline Partners LP purchased a new position in Apollo Global Management in the fourth quarter valued at about $4,434,000. Waverly Advisors LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $270,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $371,000. Vise Technologies Inc. boosted its holdings in shares of Apollo Global Management by 102.7% in the 4th quarter. Vise Technologies Inc. now owns 3,258 shares of the financial services provider's stock valued at $538,000 after buying an additional 1,651 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $25,000. 77.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the business's 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 transaction, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the firm's 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 sale, the insider directly 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. Insiders sold 935,000 shares of company stock valued at $125,543,790 in the last three months. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

APO traded up $1.14 on Tuesday, hitting $145.10. 1,607,209 shares of the company's stock were exchanged, compared to its average volume of 3,579,302. The firm has a 50-day moving average price of $141.33 and a 200-day moving average price of $137.00. 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 stock has a market cap of $83.00 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.56 and a beta of 1.69. 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 posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period last year, the firm posted $1.64 earnings per share. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.4%. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APO. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Evercore ISI increased their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Citigroup upped their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their target price 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 equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average target price of $164.56.

Apollo Global Management Company 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.