Golden State Equity Partners Increases Stock Position in Apollo Global Management Inc. $APO

Key Points

• Golden State Equity Partners significantly increased its stake in Apollo Global Management Inc. by 96.4% during Q2, owning 6,704 shares valued at approximately $951,000.
• Numerous hedge funds, including UMB Bank n.a., increased their holdings, with UMB Bank's position growing by 7,489.1% to 68,530 shares worth $9.72 million.
• Analysts have mostly upgraded their ratings on Apollo Global Management, with an average target price of $164.56 and a consensus of a "Moderate Buy" rating.

Golden State Equity Partners lifted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 96.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,704 shares of the financial services provider's stock after acquiring an additional 3,290 shares during the period. Golden State Equity Partners' holdings in Apollo Global Management were worth $951,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Clear Harbor Asset Management LLC grew its position in Apollo Global Management by 5.7% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 7,223 shares of the financial services provider's stock valued at $1,025,000 after buying an additional 392 shares during the last quarter. Border to Coast Pensions Partnership Ltd grew its position in Apollo Global Management by 6.3% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 170,000 shares of the financial services provider's stock valued at $24,118,000 after buying an additional 10,000 shares during the last quarter. Sowell Financial Services LLC grew its position in Apollo Global Management by 8.2% in the 2nd quarter. Sowell Financial Services LLC now owns 6,886 shares of the financial services provider's stock valued at $977,000 after buying an additional 524 shares during the last quarter. Farther Finance Advisors LLC grew its position in Apollo Global Management by 16.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,382 shares of the financial services provider's stock valued at $338,000 after buying an additional 342 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Apollo Global Management by 7,489.1% in the 2nd quarter. UMB Bank n.a. now owns 68,530 shares of the financial services provider's stock valued at $9,722,000 after buying an additional 67,627 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on APO. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Evercore ISI lifted their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company boosted their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays boosted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup boosted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and an average price target of $164.56.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 4,526,000 shares of the company's stock, valued at $606,619,780. The trade was a 16.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Down 0.6%

APO opened at $143.84 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $82.28 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. The business has a 50-day moving average of $141.33 and a two-hundred day moving average of $137.00. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter in the previous year, the business earned $1.64 EPS. On average, research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced 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 1.4%. Apollo Global Management's payout ratio is presently 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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