Turtle Creek Wealth Advisors LLC Invests $242,000 in Apollo Global Management Inc. $APO

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,709 shares of the financial services provider’s stock, valued at approximately $242,000.

Other large investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC increased its stake in 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 worth $26,000 after acquiring an additional 87 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Apollo Global Management by 6,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the last quarter. ORG Partners LLC increased its stake in Apollo Global Management by 285.0% during the first 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. Bay Harbor Wealth Management LLC increased its stake in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in Apollo Global Management during the first quarter worth approximately $42,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 0.6%

Shares of NYSE APO opened at $121.55 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $69.53 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.38 and a beta of 1.68. The stock has a 50 day moving average price of $134.27 and a 200 day moving average price of $135.74. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter in the previous year, the business earned $1.64 earnings per share. Sell-side 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. Investors of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is presently 38.13%.

Analyst Ratings Changes

Several brokerages have weighed in on APO. Citigroup reduced their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wells Fargo & Company boosted 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. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. BMO Capital Markets began coverage on Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.14.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the business’s 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 completion of the sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 completion of the sale, the insider owned 83,192 shares of the company’s stock, 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 worth $125,543,790. Company insiders own 8.20% of the company’s stock.

About Apollo Global Management

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.