Apollo Global Management Inc. $APO Shares Purchased by Aberdeen Group plc

Aberdeen Group plc boosted its stake in Apollo Global Management Inc. (NYSE:APO) by 4.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 425,934 shares of the financial services provider’s stock after buying an additional 17,853 shares during the period. Aberdeen Group plc’s holdings in Apollo Global Management were worth $60,636,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its holdings in 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 in the last quarter. ORG Partners LLC raised its holdings in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 171 shares in the last quarter. Bay Harbor Wealth Management LLC raised its holdings in 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 valued at $38,000 after acquiring an additional 260 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management in the first quarter valued at $39,000. Finally, Rise Advisors LLC acquired a new stake in Apollo Global Management in the first quarter valued at $42,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Barclays dropped their target price on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price on the stock. Finally, Citigroup increased their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.57.

Apollo Global Management Stock Down 4.2%

Apollo Global Management stock opened at $118.34 on Friday. The company has a 50-day simple moving average of $136.21 and a 200-day simple moving average of $136.22. The firm has a market capitalization of $67.69 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.28 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. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $1.64 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

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

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the company’s 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This represents a 4.46% 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 worth $125,543,790. Insiders own 8.20% of the company’s stock.

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.