Integrity Alliance LLC. Takes $404,000 Position in Apollo Global Management Inc. $APO

Key Points

• Integrity Alliance LLC has acquired a new position in Apollo Global Management Inc., investing approximately $404,000 to purchase 2,953 shares during the first quarter.
• The stock has been positively viewed by analysts, with several firms raising their price targets, including Wells Fargo increasing it from $160.00 to $173.00 and Evercore ISI from $155.00 to $160.00.
• Insider activity shows a significant sell-off, with insider Leon D. Black selling 915,000 shares worth over $122 million, marking a 16.82% decrease in ownership.

Integrity Alliance LLC. purchased a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,953 shares of the financial services provider's stock, valued at approximately $404,000.

A number of other large investors have also made changes to their positions in the stock. Woodline Partners LP boosted its stake in shares of Apollo Global Management by 40.7% during the first quarter. Woodline Partners LP now owns 37,764 shares of the financial services provider's stock valued at $5,171,000 after acquiring an additional 10,920 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Apollo Global Management during the first quarter valued at $299,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Apollo Global Management by 15.8% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,378 shares of the financial services provider's stock valued at $873,000 after acquiring an additional 869 shares during the last quarter. Arete Wealth Advisors LLC boosted its stake in shares of Apollo Global Management by 5.5% during the first quarter. Arete Wealth Advisors LLC now owns 14,348 shares of the financial services provider's stock valued at $1,965,000 after acquiring an additional 752 shares during the last quarter. Finally, Kestra Investment Management LLC boosted its stake in shares of Apollo Global Management by 50.3% during the first quarter. Kestra Investment Management LLC now owns 9,982 shares of the financial services provider's stock valued at $1,367,000 after acquiring an additional 3,339 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI increased their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Citigroup increased their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Barclays raised their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wells Fargo & Company raised their price target 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, Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $164.56.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of Apollo Global Management 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 transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction dated 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 directly 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. Insiders have sold 935,000 shares of company stock valued at $125,543,790 in the last three months. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Stock Up 1.2%

Shares of NYSE:APO opened at $138.10 on Friday. The stock's 50-day moving average price is $141.88 and its two-hundred day moving average price is $137.07. 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 Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The firm has a market cap of $79.00 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.47 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly 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. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $1.64 EPS. On average, research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

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

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.

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