Argent Capital Management LLC Has $45.62 Million Position in Apollo Global Management Inc. $APO

Key Points

• Argent Capital Management LLC increased its stake in Apollo Global Management Inc. by 41.4% in Q2, now holding a position valued at $45.62 million, representing 1.3% of its overall portfolio.
• Insider activity included significant stock sales, with Whitney Chatterjee selling 4,500 shares and Leon D. Black selling 915,000 shares, decreasing their holdings by 5.13% and 16.82% respectively.
• Apollo Global Management's recent quarterly earnings surpassed expectations, reporting earnings per share of $1.92 against a consensus estimate of $1.84.

Argent Capital Management LLC increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 41.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,551 shares of the financial services provider's stock after purchasing an additional 94,166 shares during the quarter. Apollo Global Management comprises about 1.3% of Argent Capital Management LLC's portfolio, making the stock its 28th biggest position. Argent Capital Management LLC owned 0.06% of Apollo Global Management worth $45,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APO. GW&K Investment Management LLC raised its holdings in 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 during the period. ORG Partners LLC grew its position in shares of Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 171 shares during the period. Farmers & Merchants Investments Inc. bought a new stake in Apollo Global Management during the 1st quarter worth approximately $39,000. Rise Advisors LLC bought a new position in Apollo Global Management in the first quarter valued at approximately $42,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the company'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 transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock worth $125,543,790 in the last ninety days. 8.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup lifted their target price on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. 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 note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Stock Performance

Shares of APO stock opened at $143.84 on Tuesday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company has a market capitalization of $82.28 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.56 and a beta of 1.69. The company has a 50-day simple moving average of $141.33 and a 200 day simple moving average of $137.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating 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 analysts' expectations of $1.01 billion. During the same period in the prior year, the firm earned $1.64 EPS. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors 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 1.4%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 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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