Stock Yards Bank & Trust Co. Makes New $709,000 Investment in Apollo Global Management Inc. $APO

Key Points

• Stock Yards Bank & Trust Co. has made a new investment of $709,000 in Apollo Global Management, acquiring 4,998 shares in the 2nd quarter.
• Apollo Global Management recently reported $1.92 EPS for the quarter, exceeding analysts' estimates of $1.84 EPS, and had revenue of $6.55 billion.
• The company announced a quarterly dividend of $0.51 per share, representing an annualized dividend yield of 1.6%.

Stock Yards Bank & Trust Co. bought a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,998 shares of the financial services provider's stock, valued at approximately $709,000.

Several other large investors have also modified their holdings of APO. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Apollo Global Management by 30.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,477 shares of the financial services provider's stock worth $1,730,000 after buying an additional 2,426 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Apollo Global Management by 26.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,413 shares of the financial services provider's stock worth $741,000 after buying an additional 1,149 shares during the period. Eagle Rock Investment Company LLC boosted its holdings in shares of Apollo Global Management by 56.5% during the 1st quarter. Eagle Rock Investment Company LLC now owns 34,552 shares of the financial services provider's stock worth $4,732,000 after buying an additional 12,475 shares during the period. Tower Wealth Partners Inc. boosted its holdings in shares of Apollo Global Management by 14.3% during the 1st quarter. Tower Wealth Partners Inc. now owns 1,992 shares of the financial services provider's stock worth $273,000 after buying an additional 249 shares during the period. Finally, Regent Peak Wealth Advisors LLC boosted its holdings in shares of Apollo Global Management by 2.7% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 4,499 shares of the financial services provider's stock worth $616,000 after buying an additional 118 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 1.1%

Shares of APO stock opened at $125.81 on Friday. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The stock has a market cap of $71.97 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.35 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a fifty day moving average of $138.35 and a 200-day moving average of $136.99.

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

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 annualized dividend and a dividend yield of 1.6%. Apollo Global Management's dividend payout ratio is presently 38.13%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, 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 have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APO has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Barclays upped their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Apollo Global Management in a research note on Saturday, September 27th. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Citigroup upped their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus target price of $164.07.

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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