Byrne Asset Management LLC Makes New $65,000 Investment in Apollo Global Management Inc. $APO

Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 460 shares of the financial services provider’s stock, valued at approximately $65,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in Apollo Global Management in the fourth quarter worth $25,000. GW&K Investment Management LLC raised 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 valued at $26,000 after acquiring an additional 87 shares during the period. ORG Partners LLC lifted its holdings in shares of 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 acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Apollo Global Management during the 1st quarter worth about $39,000. Finally, Rise Advisors LLC bought a new position in Apollo Global Management during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on 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 owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the firm’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 completion of the sale, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 935,000 shares of company stock valued at $125,543,790. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Wells Fargo & Company increased their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Citigroup raised their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Barclays upped their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Evercore ISI lifted their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.56.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $138.73 on Tuesday. The company has a market capitalization of $79.36 billion, a PE ratio of 25.93, a P/E/G ratio of 1.49 and a beta of 1.69. The company has a 50-day simple moving average of $141.82 and a two-hundred day simple moving average of $136.85. 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.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for 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 in the previous year, the firm earned $1.64 EPS. Research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s payout ratio is currently 38.13%.

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.