New England Research & Management Inc. Makes New Investment in Apollo Global Management Inc. $APO

Key Points

• New England Research & Management Inc. acquired 10,100 shares of Apollo Global Management Inc., approximately valued at $1.43 million, during the 2nd quarter.
• Major institutional investors have increased their positions in Apollo Global Management, with significant increases from Clearview Wealth Advisors LLC and Toronto Dominion Bank among others.
• Wall Street analysts are optimistic, with price targets for Apollo Global Management shares raised by several firms, including Citigroup, who set a new target at $170.00.

New England Research & Management Inc. acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,100 shares of the financial services provider's stock, valued at approximately $1,433,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after purchasing an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after buying an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock worth $412,641,000 after buying an additional 112,736 shares in the last quarter. Boston Partners purchased a new position in shares of Apollo Global Management during the 1st quarter worth approximately $370,543,000. Finally, Allen Investment Management LLC raised its stake in shares of Apollo Global Management by 14.4% during the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock worth $361,664,000 after buying an additional 333,428 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 1.1%

Shares of APO traded up $1.62 during mid-day trading on Friday, reaching $145.11. The company had a trading volume of 5,988,889 shares, compared to its average volume of 3,222,195. The stock has a market cap of $83.01 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.69. The firm has a fifty day simple moving average of $141.42 and a 200-day simple moving average of $136.93. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. 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 (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations 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 quarter last year, the firm earned $1.64 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Apollo Global Management's payout ratio is presently 38.13%.

Insiders Place Their Bets

In related news, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 over the last quarter. 8.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on APO shares. Citigroup increased their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Barclays increased their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $164.56.

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.