Carmel Capital Partners LLC Raises Stake in Apollo Global Management Inc. $APO

Carmel Capital Partners LLC grew its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 20.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,722 shares of the financial services provider's stock after purchasing an additional 3,163 shares during the period. Apollo Global Management makes up about 0.9% of Carmel Capital Partners LLC's holdings, making the stock its 21st largest position. Carmel Capital Partners LLC's holdings in Apollo Global Management were worth $2,656,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in APO. GW&K Investment Management LLC raised its stake in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the last quarter. Activest Wealth Management raised its stake in shares of Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider's stock worth $28,000 after buying an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Apollo Global Management by 6,900.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider's stock worth $30,000 after buying an additional 207 shares during the last quarter. ORG Partners LLC raised its stake in shares of Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after buying an additional 260 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on APO shares. Citigroup cut their price target on Apollo Global Management from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, October 13th. Wells Fargo & Company lifted their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Barclays cut their price target on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, October 8th. Piper Sandler reissued an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Finally, BMO Capital Markets began coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They issued a "market perform" rating and a $132.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $161.14.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company's stock, valued at $606,619,780. This represents a 16.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 in the last 90 days. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Stock Up 0.6%

Shares of NYSE APO opened at $121.55 on Friday. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The firm's 50 day moving average price is $134.27 and its 200 day moving average price is $135.74. The firm has a market cap of $69.53 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.38 and a beta of 1.68. 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 announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $1.64 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid 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 1.7%. 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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