Johnson Investment Counsel Inc. Purchases 175,945 Shares of Apollo Global Management Inc. $APO

Key Points

• Johnson Investment Counsel Inc. has increased its stake in Apollo Global Management by 113.8% in Q2, now owning approximately 330,506 shares valued at $46.89 million.
• Insider Leon D. Black sold 915,000 shares of Apollo's stock for a total of $122.64 million, reflecting a 16.82% decrease in his position.
• Apollo Global Management recently paid a quarterly dividend of $0.51 per share, translating to an annual yield of 1.7% with a payout ratio of 38.13%.

Johnson Investment Counsel Inc. boosted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 113.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 330,506 shares of the financial services provider's stock after buying an additional 175,945 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.06% of Apollo Global Management worth $46,889,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. GW&K Investment Management LLC grew its stake in 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 last quarter. ORG Partners LLC increased its position in Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares during the period. Bay Harbor Wealth Management LLC increased its position in Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after buying an additional 260 shares during the period. Farmers & Merchants Investments Inc. bought a new position in Apollo Global Management during the 1st quarter worth $39,000. Finally, Rise Advisors LLC bought a new position in Apollo Global Management during the 1st quarter worth $42,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. The trade was 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 ninety days. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Down 4.2%

Shares of Apollo Global Management stock opened at $118.34 on Friday. The firm has a market capitalization of $67.69 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.68. 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 firm's 50 day moving average is $136.21 and its 200 day moving average is $136.22. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for 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 in the previous year, the firm posted $1.64 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APO. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. BMO Capital Markets began coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They issued a "market perform" rating and a $132.00 price objective for the company. Piper Sandler reiterated an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday. Citigroup lifted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Barclays dropped their target price on shares of Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $162.57.

Apollo Global Management 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.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.