Robertson Stephens Wealth Management LLC Takes Position in Apollo Global Management Inc. $APO

Key Points

• Robertson Stephens Wealth Management LLC acquired 2,670 shares of Apollo Global Management Inc., valued at approximately $379,000, during the second quarter.
• Insider Leon D. Black sold 915,000 shares for about $122.6 million, reducing his ownership by 16.82% while the company reports 8% insider ownership overall.
• Analyst ratings for Apollo Global Management include upgrades from Wells Fargo and Evercore ISI, with a consensus rating of "Moderate Buy" and target price of $162.57.

Robertson Stephens Wealth Management LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,670 shares of the financial services provider's stock, valued at approximately $379,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APO. Boston Partners purchased a new position in Apollo Global Management in the first quarter valued at about $370,543,000. Nuveen LLC purchased a new position in Apollo Global Management in the first quarter valued at about $342,335,000. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 2.0% in 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 acquiring an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after acquiring an additional 706,181 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Apollo Global Management by 33.0% in the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider's stock worth $338,737,000 after acquiring an additional 613,124 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, 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 completion of the transaction, the insider directly owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on APO. Wells Fargo & Company raised their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Piper Sandler reissued an "overweight" rating on shares of Apollo Global Management in a report on Tuesday. Wall Street Zen downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Apollo Global Management in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.57.

Apollo Global Management Trading Down 4.2%

Apollo Global Management stock opened at $118.34 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company has a market capitalization of $67.69 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.68. The stock has a 50-day moving average price of $136.21 and a 200 day moving average price of $136.22.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping 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 firm had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management's payout ratio is presently 38.13%.

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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