Ieq Capital LLC Grows Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• Ieq Capital LLC significantly increased its holdings in Apollo Global Management by 1,518.9%, owning 541,474 shares after purchasing an additional 508,028 shares in the first quarter.
• Insider selling was reported, with Whitney Chatterjee and CFO Martin Kelly selling a combined total of 20,000 shares, reducing their ownership stakes by 5.13% and 4.46%, respectively.
• Several analysts have adjusted their price targets for Apollo Global Management, with UBS reducing it to $155.00 while Barclays raised it to $168.00, indicating a mix of sentiments among investors.

Ieq Capital LLC grew its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1,518.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 541,474 shares of the financial services provider's stock after buying an additional 508,028 shares during the quarter. Apollo Global Management accounts for about 0.6% of Ieq Capital LLC's portfolio, making the stock its 27th largest holding. Ieq Capital LLC owned about 0.09% of Apollo Global Management worth $74,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at about $25,000. GW&K Investment Management LLC lifted 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. ORG Partners LLC lifted its holdings in shares of Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management in the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APO. Piper Sandler decreased their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Barclays upped their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Evercore ISI upped their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Price Performance

NYSE:APO traded up $0.13 during trading hours on Friday, hitting $136.52. 4,975,863 shares of the stock were exchanged, compared to its average volume of 3,426,771. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The firm's fifty day moving average price is $143.11 and its 200 day moving average price is $138.42. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $78.09 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.47 and a beta of 1.62.

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

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management's dividend payout ratio is 38.13%.

Insider Buying and Selling

In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 332,399 shares in the company, valued at $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. 8.20% of the stock is owned by corporate insiders.

About Apollo Global Management

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.