Segment Wealth Management LLC Has $22.72 Million Position in Apollo Global Management Inc. $APO

Key Points

• Segment Wealth Management LLC increased its stake in Apollo Global Management by 155.4% in the second quarter, acquiring a total of 160,149 shares valued at approximately $22.72 million.
• Institutional investors now hold about 77.06% of Apollo Global Management's stock, reflecting significant interest from various funds.
• Apollo Global Management has recently reported strong quarterly earnings, with an EPS of $1.92, surpassing analyst estimates, and announced a $0.51 quarterly dividend with a yield of 1.6%.

Segment Wealth Management LLC lifted its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 155.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,149 shares of the financial services provider's stock after buying an additional 97,456 shares during the period. Apollo Global Management comprises about 1.4% of Segment Wealth Management LLC's investment portfolio, making the stock its 12th largest holding. Segment Wealth Management LLC's holdings in Apollo Global Management were worth $22,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GW&K Investment Management LLC boosted its position in shares of Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the period. ORG Partners LLC boosted its position in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the first quarter worth about $39,000. Rise Advisors LLC acquired a new position in shares of Apollo Global Management during the first quarter worth about $42,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Apollo Global Management by 118.6% during the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after buying an additional 172 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APO shares. Weiss Ratings reissued a "hold (c)" rating on shares of Apollo Global Management in a research report on Saturday, September 27th. Wells Fargo & Company increased 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. BMO Capital Markets started coverage on Apollo Global Management in a research report on Friday. They set a "market perform" rating and a $132.00 price target for the company. Evercore ISI increased their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average target price of $164.07.

Apollo Global Management Stock Performance

APO opened at $125.81 on Friday. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The stock has a market cap of $71.97 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.37 and a beta of 1.68. The business has a 50 day moving average of $138.35 and a 200-day moving average of $137.03. 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 (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) 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 analysts' expectations of $1.01 billion. During the same period last year, the firm posted $1.64 earnings per share. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 915,000 shares of the 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 owned 4,526,000 shares in the company, valued at approximately $606,619,780. This trade represents a 16.82% 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. 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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