Motco Raises Stock Holdings in Apollo Global Management Inc. $APO

Motco boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,774 shares of the financial services provider’s stock after purchasing an additional 1,893 shares during the period. Apollo Global Management comprises 1.3% of Motco’s portfolio, making the stock its 20th largest position. Motco’s holdings in Apollo Global Management were worth $13,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GW&K Investment Management LLC boosted 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 purchasing an additional 87 shares during the last quarter. Activest Wealth Management boosted its holdings in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. Bay Harbor Wealth Management LLC boosted 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 purchasing an additional 260 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in Apollo Global Management during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were 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. This represents a 4.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Down 1.4%

Shares of Apollo Global Management stock opened at $124.59 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $132.11 and its 200-day simple moving average is $136.17. The stock has a market capitalization of $71.27 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.44 and a beta of 1.68. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month 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 for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $1.64 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is presently 38.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup reduced their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Finally, Morgan Stanley reduced their target price on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $162.57.

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.