Apollo Global Management Inc. $APO Shares Acquired by Global Financial Private Client LLC

Key Points

• Global Financial Private Client LLC significantly increased its stake in Apollo Global Management by 2,181.7% to a total value of $388,000 at the end of the second quarter.
• Several analysts have raised their price targets for Apollo Global Management, with Barclays increasing their target from $156.00 to $168.00, and Citigroup from $160.00 to $170.00, while maintaining positive ratings.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, which translates to an annual yield of 1.4%, with a payout ratio of 38.13%.

Global Financial Private Client LLC boosted its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 2,181.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,738 shares of the financial services provider's stock after purchasing an additional 2,618 shares during the period. Global Financial Private Client LLC's holdings in Apollo Global Management were worth $388,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Y.D. More Investments Ltd raised its stake in Apollo Global Management by 14.4% during the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock worth $85,000 after purchasing an additional 78 shares during the period. Walled Lake Planning & Wealth Management LLC raised its stake in Apollo Global Management by 3.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock worth $345,000 after purchasing an additional 80 shares during the period. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the period. CVA Family Office LLC raised its stake in Apollo Global Management by 19.7% during the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock worth $73,000 after purchasing an additional 88 shares during the period. Finally, World Investment Advisors raised its stake in Apollo Global Management by 1.3% during the first quarter. World Investment Advisors now owns 7,089 shares of the financial services provider's stock worth $971,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on APO. Wells Fargo & Company increased their price target on shares of 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 raised their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Citigroup raised their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $164.56.

Apollo Global Management Stock Down 0.6%

APO traded down $0.91 during trading hours on Monday, reaching $143.84. 2,805,226 shares of the stock traded hands, compared to its average volume of 3,350,670. The firm's fifty day simple moving average is $141.33 and its two-hundred day simple moving average is $137.00. The company has a market cap of $82.28 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.56 and a beta of 1.69. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results 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 business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $1.64 EPS. As a group, 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. Shareholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the firm's stock in a transaction on 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 directly owned 4,526,000 shares of the company's stock, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the firm's 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 transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% 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 in the last ninety days. Corporate insiders own 8.50% of the company's stock.

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.