86,404 Shares in Apollo Global Management Inc. $APO Bought by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new position in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 86,404 shares of the financial services provider’s stock, valued at approximately $10,222,000.

A number of other institutional investors have also recently bought and sold shares of APO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management in the 1st quarter worth about $29,000. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after buying an additional 213 shares during the last quarter. Osbon Capital Management LLC bought a new position in Apollo Global Management during the fourth quarter valued at about $36,000. Finally, Physician Wealth Advisors Inc. grew its position in Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after buying an additional 96 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on APO shares. Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Piper Sandler reduced their target price on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Apollo Global Management in a research note on Friday, August 7th. Finally, Barclays lifted their price target on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Down 0.2%

Shares of APO opened at $133.59 on Thursday. The business has a 50-day moving average of $126.74 and a 200 day moving average of $122.71. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The firm has a market cap of $78.89 billion, a P/E ratio of 48.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the prior year, the firm posted $1.92 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 8.12 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be given a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is 82.42%.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.