Beacon Pointe Advisors LLC Invests $2.46 Million in Apollo Global Management Inc. $APO

Key Points

• Beacon Pointe Advisors initiated a $2.46 million position in Apollo Global Management, purchasing 20,770 shares during the second quarter. Institutional investors collectively own 77.06% of Apollo’s stock.
• Apollo shares recently traded at $135.39, up 1.5%, while the company’s latest quarterly results fell slightly short of analyst expectations, with earnings of $2.11 per share versus a $2.16 estimate.
• Apollo declared a quarterly dividend of $0.5625 per share, equivalent to a $2.25 annualized payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.77.

Beacon Pointe Advisors LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,770 shares of the financial services provider's stock, valued at approximately $2,457,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its stake in Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 82 shares during the last quarter. Glen Eagle Advisors LLC lifted its position in shares of Apollo Global Management by 33.3% during the 4th quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider's stock valued at $56,000 after buying an additional 96 shares during the last quarter. Kestra Investment Management LLC lifted its position in shares of Apollo Global Management by 2.1% during the 4th quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider's stock valued at $684,000 after buying an additional 99 shares during the last quarter. Ramirez Asset Management Inc. grew its stake in shares of Apollo Global Management by 25.0% during the 4th quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider's stock worth $72,000 after acquiring an additional 100 shares during the period. Finally, Prudential PLC increased its holdings in Apollo Global Management by 1.6% in the 4th quarter. Prudential PLC now owns 6,502 shares of the financial services provider's stock worth $941,000 after acquiring an additional 100 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Trading Up 1.5%

Shares of APO stock opened at $135.39 on Friday. The company has a market capitalization of $79.95 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The business's fifty day moving average is $126.22 and its 200 day moving average is $122.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its 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). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 1.7%. Apollo Global Management's payout ratio is presently 82.42%.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Morgan Stanley reduced their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating for the company in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. HSBC initiated coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a "buy" rating and a $145.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.77.

Apollo Global Management Company Profile

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.

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