GM Advisory Group LLC Grows Stock Holdings in Apollo Global Management Inc. $APO

GM Advisory Group LLC lifted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 25.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,018 shares of the financial services provider’s stock after purchasing an additional 2,049 shares during the period. GM Advisory Group LLC’s holdings in Apollo Global Management were worth $1,421,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after buying an additional 893,428 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after buying an additional 706,181 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Apollo Global Management by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after acquiring an additional 36,866 shares in the last quarter. Boston Partners purchased a new position in Apollo Global Management during the 1st quarter valued at about $370,543,000. Finally, Nuveen LLC purchased a new position in Apollo Global Management during the 1st quarter valued at about $342,335,000. 77.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, 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 value of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Apollo Global Management in a research report on Monday. Citigroup dropped 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. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their target price on shares of Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, Barclays raised their price target on shares of Apollo Global Management from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $162.85.

Apollo Global Management Stock Performance

Shares of APO opened at $130.50 on Thursday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market cap of $75.74 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.42 and a beta of 1.63. The business has a 50-day simple moving average of $129.24 and a two-hundred day simple moving average of $135.93.

Apollo Global Management Announces Dividend

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

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.