First Business Financial Services Inc. Buys New Stake in Apollo Global Management Inc. $APO

Key Points

• First Business Financial Services Inc. has acquired a new stake in Apollo Global Management Inc., purchasing 7,777 shares valued at approximately $1,103,000.
• Multiple hedge funds have significantly increased their holdings in Apollo Global Management, with some boosting their positions by as much as 6,900% to 875%.
• Apollo Global Management recently declared a quarterly dividend of $0.51 per share, equating to a 1.7% dividend yield and a payout ratio of 38.13%.

First Business Financial Services Inc. purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,777 shares of the financial services provider's stock, valued at approximately $1,103,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC raised its holdings in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the period. Activest Wealth Management boosted its holdings in Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 175 shares during the period. Rosenberg Matthew Hamilton grew its position in Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. Bay Harbor Wealth Management LLC increased its stake in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after purchasing an additional 260 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of Apollo Global Management during the first quarter worth about $42,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on APO. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a "market perform" rating and a $132.00 target price on the stock. Wells Fargo & Company upped their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI lifted their target price on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Finally, Barclays reduced their price target on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.57.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction on 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 transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. 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 over the last three months. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO opened at $122.97 on Friday. The company's 50 day simple moving average is $132.91 and its 200-day simple moving average is $135.85. The firm has a market cap of $70.34 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.68. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $1.64 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared 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. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management's dividend payout ratio is 38.13%.

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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