RWA Wealth Partners LLC Purchases New Stake in Apollo Global Management Inc. $APO

RWA Wealth Partners LLC acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,842 shares of the financial services provider’s stock, valued at approximately $5,936,000.

Several other hedge funds have also recently bought and sold shares of APO. Envestnet Asset Management Inc. lifted its stake in Apollo Global Management by 6.8% during the first quarter. Envestnet Asset Management Inc. now owns 533,722 shares of the financial services provider’s stock worth $73,088,000 after purchasing an additional 33,934 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Apollo Global Management by 46.4% during the first quarter. Crossmark Global Holdings Inc. now owns 5,593 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 1,773 shares in the last quarter. M&T Bank Corp raised its stake in Apollo Global Management by 5.3% during the first quarter. M&T Bank Corp now owns 16,602 shares of the financial services provider’s stock worth $2,274,000 after acquiring an additional 831 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Apollo Global Management by 14.4% in the first quarter. Greenleaf Trust now owns 2,418 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 304 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Apollo Global Management by 33.1% in the 1st quarter. Allworth Financial LP now owns 1,223 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 304 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on APO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Barclays raised their price objective on Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI upped their target price on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Apollo Global Management Stock Up 2.6%

Shares of NYSE:APO opened at $132.34 on Friday. The firm has a market cap of $75.70 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.42 and a beta of 1.63. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The business has a fifty day simple moving average of $130.95 and a 200 day simple moving average of $136.31. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.24. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The business’s quarterly revenue was down 20.9% on a year-over-year basis. Analysts predict 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 will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, November 17th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management’s dividend payout ratio (DPR) is presently 29.82%.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The SEC filing for this sale provides additional information. 8.20% of the stock is currently owned by insiders.

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.