Vise Technologies Inc. Invests $702,000 in Apollo Global Management Inc. $APO

Vise Technologies Inc. purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,945 shares of the financial services provider’s stock, valued at approximately $702,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after acquiring an additional 893,428 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after acquiring an additional 706,181 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apollo Global Management by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock valued at $412,641,000 after buying an additional 112,736 shares during the last quarter. Boston Partners purchased a new position in shares of Apollo Global Management during the 1st quarter worth approximately $370,543,000. Finally, Allen Investment Management LLC boosted its position in shares of Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock worth $361,664,000 after buying an additional 333,428 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 3.6%

Shares of NYSE:APO opened at $128.74 on Friday. The stock has a market capitalization of $73.64 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. 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 company’s fifty day moving average is $130.68 and its two-hundred day moving average is $136.29.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analyst Weigh In

Several research analysts recently commented on APO shares. Citigroup lowered their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. Evercore ISI boosted their price objective on shares of Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Barclays boosted their target price on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. One 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. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $162.00.

Insider Activity

In related news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 4,526,000 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 8.20% of the stock is owned by corporate insiders.

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.