Monument Capital Management Buys Shares of 2,671 Apollo Global Management Inc. $APO

Key Points

• Monument Capital Management has acquired a new stake in Apollo Global Management by purchasing 2,671 shares valued at approximately $379,000 during the second quarter.
• Apollo Global Management has seen a variety of ratings from analysts, with Citigroup raising its target price to $170.00, while others like Wall Street Zen downgraded it to a "sell".
• The company recently declared a quarterly dividend of $0.51 per share, representing an annualized yield of 1.7% with a payout ratio of 38.13%.

Monument Capital Management bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,671 shares of the financial services provider's stock, valued at approximately $379,000.

A number of other institutional investors have also modified their holdings of APO. GW&K Investment Management LLC grew its position in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC grew 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 purchasing an additional 171 shares during the last quarter. Bay Harbor Wealth Management LLC grew 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 purchasing an additional 260 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Apollo Global Management during the 1st quarter worth approximately $39,000. Finally, Rise Advisors LLC purchased a new stake in Apollo Global Management during the 1st quarter worth approximately $42,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. BMO Capital Markets started coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a "market perform" rating and a $132.00 target price on the stock. Barclays decreased their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Piper Sandler restated an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday. 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.57.

Apollo Global Management Stock Performance

APO opened at $118.34 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a fifty day moving average price of $136.21 and a 200 day moving average price of $136.28. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The stock has a market cap of $67.69 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.34 and a beta of 1.68.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its 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. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the business posted $1.64 EPS. Equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management's payout ratio is currently 38.13%.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock worth $125,543,790 in the last three months. Company insiders own 8.20% of the company's stock.

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.

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