Applied Finance Capital Management LLC Takes Position in Apollo Global Management Inc. $APO

Key Points

• Applied Finance Capital Management LLC acquired a new stake in Apollo Global Management, purchasing 8,624 shares valued at approximately $1.2 million during the second quarter.
• Insider Leon D. Black sold 915,000 shares for over $122 million, marking a significant decrease in his ownership by 16.82%.
• Recent price targets for Apollo Global Management range from $132 to $173, with a consensus rating of "Moderate Buy" among analysts.

Applied Finance Capital Management LLC purchased a new stake 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 & Exchange Commission. The institutional investor purchased 8,624 shares of the financial services provider's stock, valued at approximately $1,223,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GW&K Investment Management LLC lifted its position in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Activest Wealth Management lifted its position in shares of Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider's stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider's stock worth $30,000 after purchasing an additional 207 shares in the last quarter. ORG Partners LLC lifted its position in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC lifted its position in shares of Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 over the last ninety days. Insiders own 8.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on APO. BMO Capital Markets began coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They issued a "market perform" rating and a $132.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Evercore ISI boosted 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. Citigroup cut their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Wells Fargo & Company upped 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 analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus price target of $161.14.

Apollo Global Management Stock Performance

NYSE APO opened at $120.86 on Friday. 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 firm's fifty day moving average price is $134.68 and its two-hundred day moving average price is $135.85. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The firm has a market capitalization of $69.14 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

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

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