Bay Harbor Wealth Management LLC Buys 260 Shares of Apollo Global Management Inc. $APO

Bay Harbor Wealth Management LLC grew its stake in Apollo Global Management Inc. (NYSE:APO) by 5,200.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265 shares of the financial services provider’s stock after acquiring an additional 260 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Apollo Global Management were worth $38,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GW&K Investment Management LLC boosted its stake in shares of Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Apollo Global Management during the first quarter valued at approximately $39,000. Rise Advisors LLC bought a new position in shares of Apollo Global Management during the first quarter valued at approximately $42,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Apollo Global Management by 118.6% during the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 172 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on APO shares. Evercore ISI increased their price objective 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. Citigroup increased their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research report on Saturday, September 27th. Finally, Barclays increased their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $164.07.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 $12,148,527.76. The trade was a 5.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 935,000 shares of company stock valued at $125,543,790. Insiders own 8.20% of the company’s stock.

Apollo Global Management Trading Down 1.1%

NYSE:APO opened at $125.81 on Friday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The firm has a 50 day moving average of $138.35 and a 200 day moving average of $136.99. 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 capitalization of $71.97 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.35 and a beta of 1.68.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations 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 company posted $1.64 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) 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.