UMB Bank n.a. Boosts Holdings in Apollo Global Management Inc. $APO

Key Points

• UMB Bank n.a. increased its stake in Apollo Global Management Inc. by 7,489.1% during the second quarter, holding 68,530 shares valued at approximately $9.72 million.
• Apollo Global Management has received multiple upgrades, with Citigroup and Barclays raising their price targets, indicating a potential shift in analyst sentiment towards a buy rating.
• The company recently declared a quarterly dividend of $0.51 per share, reflecting an annualized payout of $2.04 with a yield of 1.4%.

UMB Bank n.a. grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7,489.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,530 shares of the financial services provider's stock after buying an additional 67,627 shares during the period. UMB Bank n.a.'s holdings in Apollo Global Management were worth $9,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Fourth Dimension Wealth LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth $25,000. GW&K Investment Management LLC grew its stake in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after acquiring an additional 87 shares during the last quarter. ORG Partners LLC grew its position in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management during the first quarter worth about $39,000. Finally, Rise Advisors LLC acquired a new stake in shares of Apollo Global Management during the 1st quarter worth approximately $42,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup boosted their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Barclays increased their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Wells Fargo & Company lifted their target price 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. Finally, Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.56.

Apollo Global Management Price Performance

NYSE:APO traded up $1.09 during mid-day trading on Tuesday, reaching $145.05. The stock had a trading volume of 1,625,445 shares, compared to its average volume of 3,579,615. The firm has a 50 day moving average price of $141.33 and a two-hundred day moving average price of $137.00. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. 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 stock has a market capitalization of $82.97 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.56 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results 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. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, August 18th. Apollo Global Management's dividend payout ratio is currently 38.13%.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were 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 in the company, valued at approximately $606,619,780. The trade was a 16.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. 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. Insiders own 8.50% 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.