Kingsview Wealth Management LLC Purchases New Position in Apollo Global Management Inc. $APO

Key Points

• Kingsview Wealth Management acquired 42,344 Apollo Global Management shares during the second quarter, worth approximately $5.01 million. Institutional investors collectively own 77.06% of Apollo’s stock.
• Apollo shares opened at $135.39, with the company valued at roughly $79.95 billion. Its latest quarterly results fell slightly short of expectations, reporting $2.11 in EPS versus the $2.16 consensus and $5.57 billion in revenue versus $5.65 billion expected.
• Apollo declared a quarterly dividend of $0.5625 per share, equal to a $2.25 annualized payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.77.

Kingsview Wealth Management LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,344 shares of the financial services provider's stock, valued at approximately $5,010,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $29,000. Osbon Capital Management LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $36,000. Steigerwald Gordon & Koch Inc. raised its stake in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 213 shares during the period. MBM Wealth Consultants LLC acquired a new position in shares of Apollo Global Management during the first quarter worth $29,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of Apollo Global Management during the second quarter worth $31,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company's stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.30% of the company's stock.

Apollo Global Management Stock Up 1.5%

Shares of NYSE:APO opened at $135.39 on Friday. The firm has a market cap of $79.95 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company has a fifty day simple moving average of $126.22 and a 200 day simple moving average of $122.87. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the company earned $1.92 earnings per share. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APO shares. Morgan Stanley lowered their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. Piper Sandler cut their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Royal Bank Of Canada upped their price objective on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. UBS Group raised their target price on Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $152.77.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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