Coordinated Financial Services Inc. Purchases Shares of 2,168 Apollo Global Management Inc. $APO

Key Points

• Coordinated Financial Services Inc. purchased 2,168 shares of Apollo Global Management valued at approximately $308,000 in the second quarter.
• Apollo Global Management has faced mixed analyst ratings, with one downgrade to "sell" and several price target adjustments ranging from $132.00 to $173.00.
• Insider transactions revealed significant share sales, including a transaction by CFO Martin Kelly, decreasing his position by 4.46% and insider Leon D. Black reducing his holdings by 16.82%.

Coordinated Financial Services Inc. purchased a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,168 shares of the financial services provider's stock, valued at approximately $308,000.

A number of other large investors also recently bought and sold shares of the stock. Boston Partners acquired a new position in shares of Apollo Global Management during the 1st quarter worth approximately $370,543,000. Nuveen LLC acquired a new position in shares of Apollo Global Management during the 1st quarter worth approximately $342,335,000. Vanguard Group Inc. raised its stake in shares of Apollo Global Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after buying an additional 893,428 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after buying an additional 706,181 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Apollo Global Management by 33.0% during the 1st quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider's stock worth $338,737,000 after buying an additional 613,124 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APO has been the subject of several research analyst reports. Wall Street Zen downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Barclays reduced their target price on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday. Wells Fargo & Company upped their target price 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. Finally, BMO Capital Markets assumed coverage on Apollo Global Management in a research report on Friday, October 3rd. They set a "market perform" rating and a $132.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $162.57.

Apollo Global Management Stock Down 1.2%

Shares of APO opened at $123.31 on Friday. 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 $70.54 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. The stock has a fifty day simple moving average of $136.61 and a two-hundred day simple moving average of $136.48. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO - Get Free Report) last issued 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 return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.64 EPS. As a group, equities analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date 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%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 of the company's stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Company 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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