Golden State Equity Partners Grows Stock Position in Apollo Global Management Inc. $APO

Golden State Equity Partners boosted its stake in Apollo Global Management Inc. (NYSE:APO) by 96.4% in the second quarter, Holdings Channel reports. The fund owned 6,704 shares of the financial services provider’s stock after buying an additional 3,290 shares during the quarter. Golden State Equity Partners’ holdings in Apollo Global Management were worth $951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clear Harbor Asset Management LLC boosted its holdings in Apollo Global Management by 5.7% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 7,223 shares of the financial services provider’s stock worth $1,025,000 after acquiring an additional 392 shares during the period. Border to Coast Pensions Partnership Ltd raised its position in shares of Apollo Global Management by 6.3% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 170,000 shares of the financial services provider’s stock valued at $24,118,000 after purchasing an additional 10,000 shares in the last quarter. Sowell Financial Services LLC raised its position in shares of Apollo Global Management by 8.2% in the 2nd quarter. Sowell Financial Services LLC now owns 6,886 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 524 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Apollo Global Management by 16.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,382 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 342 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Apollo Global Management by 7,489.1% in the 2nd quarter. UMB Bank n.a. now owns 68,530 shares of the financial services provider’s stock valued at $9,722,000 after purchasing an additional 67,627 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 0.6%

APO opened at $143.84 on Tuesday. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The business has a 50-day moving average of $141.33 and a 200-day moving average of $137.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $82.28 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business earned $1.64 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal 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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 38.13%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Barclays upped their target price 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. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Wells Fargo & Company upped 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, Citigroup upped their price target on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned 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 an average target price of $164.56.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction that occurred 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 of the company’s stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value 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. In the last ninety days, insiders have sold 935,000 shares of company stock valued at $125,543,790. Corporate insiders own 8.50% of the company’s stock.

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.