BigSur Wealth Management LLC Takes Position in Apollo Global Management Inc. $APO

Key Points

• BigSur Wealth Management LLC initiated a new position in Apollo Global Management Inc. by purchasing 3,000 shares valued at approximately $426,000.
• Institutional investors currently own 77.06% of Apollo Global Management's stock, with several others increasing their stake in the company during the second quarter.
• Apollo Global Management's shares are currently rated as a "Moderate Buy" by analysts, with an average price target of $166.27.

BigSur Wealth Management LLC purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,000 shares of the financial services provider's stock, valued at approximately $426,000.

Other large investors have also recently added to or reduced their stakes in the company. Perennial Advisors LLC purchased a new position in Apollo Global Management in the second quarter worth approximately $255,000. Beacon Investment Advisory Services Inc. raised its position in Apollo Global Management by 6.9% in the second quarter. Beacon Investment Advisory Services Inc. now owns 56,158 shares of the financial services provider's stock valued at $7,967,000 after purchasing an additional 3,624 shares during the period. Northside Capital Management LLC acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $9,384,000. Ballentine Partners LLC lifted its stake in shares of Apollo Global Management by 5.1% in the 2nd quarter. Ballentine Partners LLC now owns 4,574 shares of the financial services provider's stock valued at $649,000 after purchasing an additional 222 shares during the last quarter. Finally, AM Investment Strategies LLC grew its holdings in shares of Apollo Global Management by 4.8% during the 2nd quarter. AM Investment Strategies LLC now owns 65,969 shares of the financial services provider's stock worth $9,358,000 after purchasing an additional 2,993 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares in the company, valued at $606,619,780. This represents a 16.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the sale, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 935,000 shares of company stock worth $125,543,790. Corporate insiders own 8.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on APO. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Evercore ISI upped their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Barclays lifted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus price target of $166.27.

Apollo Global Management Stock Down 5.1%

Shares of APO opened at $137.57 on Thursday. The company's 50-day simple moving average is $141.01 and its 200-day simple moving average is $137.06. 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 Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The stock has a market capitalization of $78.69 billion, a PE ratio of 25.71, a P/E/G ratio of 1.56 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted $1.64 earnings per share. Analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management's dividend payout ratio is currently 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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