Wealthfront Advisers LLC Takes Position in Apollo Global Management Inc. $APO

Wealthfront Advisers LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 56,931 shares of the financial services provider’s stock, valued at approximately $6,736,000.

Other institutional investors have also added to or reduced their stakes in the company. Schnieders Capital Management LLC. bought a new stake in shares of Apollo Global Management during the second quarter valued at approximately $7,954,000. Baird Financial Group Inc. raised its position in shares of Apollo Global Management by 117.5% during the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after purchasing an additional 8,709 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Apollo Global Management by 4.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 305 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Apollo Global Management in the 2nd quarter worth $722,000. Finally, Northern Right Capital Management L.P. grew its position in Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock valued at $24,542,000 after purchasing an additional 2,500 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on APO shares. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets dropped their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Apollo Global Management in a report on Friday, August 7th. UBS Group boosted their target price on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley lowered 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 report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.77.

Apollo Global Management Trading Down 0.2%

Shares of Apollo Global Management stock opened at $133.59 on Thursday. The company has a market capitalization 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 stock has a fifty day simple moving average of $126.74 and a 200 day simple moving average of $122.71. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The company had revenue of $5.57 billion for 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 last year, the business posted $1.92 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.12 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

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

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by company insiders.

About Apollo Global Management

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.