KLP Kapitalforvaltning AS Has $20.47 Million Position in Apollo Global Management Inc. $APO

Key Points

• KLP Kapitalforvaltning AS has increased its position in Apollo Global Management Inc. by 6.9%, now holding 144,290 shares valued at $20.47 million.
• Insider transactions revealed that CFO Martin Kelly sold 15,500 shares for approximately $2.25 million, representing a 4.46% decrease in his ownership.
• Apollo Global Management's recent quarterly earnings surpassed expectations, reporting an EPS of $1.92 against a consensus of $1.84, reflecting a net margin of 13.25%.

KLP Kapitalforvaltning AS increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,290 shares of the financial services provider's stock after purchasing an additional 9,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Apollo Global Management were worth $20,470,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in APO. Valeo Financial Advisors LLC raised its position in Apollo Global Management by 36.5% during the second quarter. Valeo Financial Advisors LLC now owns 2,558 shares of the financial services provider's stock valued at $363,000 after acquiring an additional 684 shares in the last quarter. DAVENPORT & Co LLC raised its position in Apollo Global Management by 9.5% during the second quarter. DAVENPORT & Co LLC now owns 40,191 shares of the financial services provider's stock valued at $5,702,000 after acquiring an additional 3,496 shares in the last quarter. Iron Horse Wealth Management LLC raised its position in Apollo Global Management by 27.6% during the second quarter. Iron Horse Wealth Management LLC now owns 2,489 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 539 shares in the last quarter. Bay Harbor Wealth Management LLC raised its position in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 260 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Apollo Global Management by 6.3% during the second quarter. QRG Capital Management Inc. now owns 33,086 shares of the financial services provider's stock valued at $4,694,000 after acquiring an additional 1,955 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 935,000 shares of company stock worth $125,543,790. Insiders own 8.20% of the company's stock.

Apollo Global Management Trading Down 1.0%

Shares of Apollo Global Management stock opened at $124.74 on Thursday. The company's fifty day simple moving average is $137.05 and its 200-day simple moving average is $136.65. The company has a market cap of $71.35 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.36 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. 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 data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $1.64 earnings per share. As a group, sell-side analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The business 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. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Barclays cut their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday. Piper Sandler reissued an "overweight" rating on shares of Apollo Global Management in a research report on Tuesday. Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Apollo Global Management in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.57.

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.

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.