Apollo Global Management Inc. $APO Stake Boosted by HB Wealth Management LLC

HB Wealth Management LLC increased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 26.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,809 shares of the financial services provider’s stock after purchasing an additional 2,500 shares during the period. HB Wealth Management LLC’s holdings in Apollo Global Management were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after purchasing an additional 706,181 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock worth $412,641,000 after purchasing an additional 112,736 shares during the last quarter. Boston Partners bought a new position in Apollo Global Management during the first quarter worth $370,543,000. Finally, Allen Investment Management LLC lifted its stake in Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after buying an additional 333,428 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays raised their target price 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. Wells Fargo & Company raised their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Evercore ISI raised their target price 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. Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Citigroup raised their target price on 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 research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.93.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The sale 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 Apollo Global Management stock in a transaction dated Wednesday, August 6th. The shares were 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 in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 over the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $127.09 on Friday. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The firm’s 50-day simple moving average is $138.85 and its 200 day simple moving average is $137.11. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market cap of $72.70 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.40 and a beta of 1.68.

Apollo Global Management (NYSE:APO) 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 net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $1.64 earnings per share. Equities analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s payout ratio is currently 38.13%.

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.