Basswood Capital Management L.L.C. purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,343 shares of the financial services provider's stock, valued at approximately $2,998,000.
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after acquiring an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $1,599,000. Louisiana State Employees Retirement System acquired a new stake in shares of Apollo Global Management during the 1st quarter worth about $2,641,000. State of New Jersey Common Pension Fund D raised its position in shares of Apollo Global Management by 6.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 148,803 shares of the financial services provider's stock worth $21,541,000 after acquiring an additional 9,055 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Apollo Global Management by 13.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider's stock worth $9,773,000 after purchasing an additional 8,003 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. UBS Group increased their target price on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, BMO Capital Markets cut their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating on the stock in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $152.77.
Check Out Our Latest Stock Analysis on APO
Insider Buying and Selling
In other news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company's stock.
Apollo Global Management Stock Performance
Shares of APO opened at $133.64 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The firm has a market cap of $78.92 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company's 50 day simple moving average is $126.36 and its 200-day simple moving average is $122.78. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29.
Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the company earned $1.92 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current year.
Apollo Global Management Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management's payout ratio is currently 82.42%.
Apollo Global Management Profile
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Free Report)
Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
See Also
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