Verdence Capital Advisors LLC Acquires 8,652 Shares of Apollo Global Management Inc. $APO

Key Points

• Verdence Capital Advisors LLC increased its holdings in Apollo Global Management by 21.6%, acquiring an additional 8,652 shares, bringing its total to 48,717 shares valued at approximately $6.9 million.
• Shares of Apollo Global Management opened at $118.34 and have a market capitalization of $67.69 billion, with a price-to-earnings ratio of 22.12.
• Analysts maintain a consensus rating of "Moderate Buy" for Apollo Global Management, with a target price averaging $162.57, amidst a range of recent ratings changes.

Verdence Capital Advisors LLC lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 21.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,717 shares of the financial services provider's stock after buying an additional 8,652 shares during the quarter. Verdence Capital Advisors LLC's holdings in Apollo Global Management were worth $6,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GW&K Investment Management LLC lifted 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 buying an additional 87 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Apollo Global Management by 285.0% in 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 last quarter. Bay Harbor Wealth Management LLC lifted its stake in shares of Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after buying an additional 260 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management in the first quarter worth $39,000. Finally, Rise Advisors LLC acquired a new stake in shares of Apollo Global Management in the first quarter worth $42,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APO has been the subject of a number of analyst reports. Piper Sandler restated an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Evercore ISI upped their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Finally, Barclays cut their target price on shares of Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.57.

Apollo Global Management Trading Down 4.2%

Shares of APO stock opened at $118.34 on Monday. 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 $67.69 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.29 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 $136.21 and a 200-day moving average of $136.18.

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 Dividend Announcement

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

Insider Activity

In related news, 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 transaction of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company's stock, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is currently owned by corporate insiders.

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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