Goodnow Investment Group LLC Invests $14.02 Million in Apollo Global Management Inc. $APO

Goodnow Investment Group LLC bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 118,461 shares of the financial services provider’s stock, valued at approximately $14,015,000. Apollo Global Management comprises approximately 1.5% of Goodnow Investment Group LLC’s portfolio, making the stock its 18th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wolf Hill Capital Management LP acquired a new stake in Apollo Global Management during the second quarter valued at approximately $35,165,518,000. L2 Asset Management LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at $272,000. Aberdeen Wealth Management LLC bought a new stake in Apollo Global Management in the second quarter valued at $67,000. Visionary Wealth Advisors acquired a new position in Apollo Global Management during the second quarter worth $312,000. Finally, Whalen Wealth Management Inc. bought a new position in shares of Apollo Global Management during the second quarter valued at $414,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $132.72 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market cap of $78.38 billion, a P/E ratio of 48.62, a P/E/G ratio of 1.20 and a beta of 1.51. The firm has a 50 day simple moving average of $126.57 and a 200 day simple moving average of $122.72. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 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 previous year, the business posted $1.92 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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 dividend of $0.5625 per share. 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 payout ratio is currently 82.42%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APO shares. UBS Group increased 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. BMO Capital Markets decreased 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. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Morgan Stanley cut their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. One investment 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 company. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $152.77.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the company’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 owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was 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 insiders.

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.