Summit Financial LLC Grows Stock Position in Apollo Global Management Inc. $APO

Key Points

• Summit Financial LLC increased its stake in Apollo Global Management Inc. by 59.3%, reaching a total of 12,414 shares valued at approximately $1.7 million as of its latest SEC filing.
• Several institutional investors have also boosted their holdings in Apollo, with Clearview Wealth Advisors raising their stake by 420.7% during the same quarter, and Principal Financial Group increasing theirs by 1.4%.
• Analysts generally view Apollo Global Management positively, with an average rating of "Moderate Buy" and a consensus price target of $163.28, as multiple firms recently raised their target prices for the stock.

Summit Financial LLC raised its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 59.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,414 shares of the financial services provider's stock after acquiring an additional 4,622 shares during the period. Summit Financial LLC's holdings in Apollo Global Management were worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Apollo Global Management by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after acquiring an additional 7,441 shares in the last quarter. Clearview Wealth Advisors LLC raised its holdings in shares of Apollo Global Management by 420.7% during the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after acquiring an additional 17,418 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Apollo Global Management by 209.0% during the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after acquiring an additional 110,014 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Apollo Global Management during the 1st quarter worth approximately $871,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Apollo Global Management during the 1st quarter valued at $492,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 1.0%

Shares of APO traded up $1.38 during midday trading on Wednesday, reaching $135.78. 2,984,842 shares of the stock were exchanged, compared to its average volume of 3,586,762. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company's 50 day moving average is $142.95 and its two-hundred day moving average is $138.90. The company has a market capitalization of $77.67 billion, a P/E ratio of 25.38, a PEG ratio of 1.44 and a beta of 1.62. 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 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $1.64 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Insider Transactions at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm'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 sale, the insider owned 83,192 shares of the company's stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 15,500 shares of the 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 completion of the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler decreased their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. 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 report on Friday, July 11th. Barclays increased their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management has an average rating of "Moderate Buy" and an average price target 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.