Northside Capital Management LLC Takes Position in Apollo Global Management Inc. $APO

Key Points

• Northside Capital Management LLC purchased a new stake in Apollo Global Management Inc. valued at approximately $9.4 million, acquiring 66,145 shares.
• Wall Street analysts are optimistic about Apollo Global Management, with several firms raising their price targets, recommending a consensus average rating of "Moderate Buy".
• In insider trading, Leon D. Black sold 915,000 shares for over $122 million, representing a 16.82% decrease in his holdings.

Northside Capital Management LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 66,145 shares of the financial services provider's stock, valued at approximately $9,384,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ballentine Partners LLC raised its position in Apollo Global Management by 5.1% during the 2nd quarter. Ballentine Partners LLC now owns 4,574 shares of the financial services provider's stock valued at $649,000 after purchasing an additional 222 shares during the last quarter. AM Investment Strategies LLC raised its position in Apollo Global Management by 4.8% during the 2nd quarter. AM Investment Strategies LLC now owns 65,969 shares of the financial services provider's stock valued at $9,358,000 after purchasing an additional 2,993 shares during the last quarter. Forte Capital LLC ADV raised its position in Apollo Global Management by 10.1% during the 2nd quarter. Forte Capital LLC ADV now owns 2,465 shares of the financial services provider's stock valued at $350,000 after purchasing an additional 227 shares during the last quarter. Financial Partners Group Inc bought a new position in Apollo Global Management during the 2nd quarter valued at approximately $211,000. Finally, Argent Capital Management LLC raised its position in Apollo Global Management by 41.4% during the 2nd quarter. Argent Capital Management LLC now owns 321,551 shares of the financial services provider's stock valued at $45,618,000 after purchasing an additional 94,166 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction 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 completion of the sale, the insider owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $657,135.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 935,000 shares of company stock valued at $125,543,790. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Stock Up 0.8%

APO stock opened at $145.07 on Wednesday. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $82.99 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.69. The business has a 50 day moving average of $141.31 and a 200 day moving average of $137.05.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data 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. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.64 EPS. On average, research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

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.

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