Commerce Bank Buys New Stake in Apollo Global Management Inc. $APO

Commerce Bank purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,947 shares of the financial services provider’s stock, valued at approximately $1,295,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new stake in shares of Apollo Global Management during the 1st quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. lifted its position in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in Apollo Global Management in the 2nd quarter worth $31,000. Finally, Osbon Capital Management LLC purchased a new position in Apollo Global Management in the fourth quarter valued at about $36,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on APO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Weiss Ratings upgraded Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Piper Sandler decreased their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, July 13th. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Apollo Global Management Stock Up 0.4%

APO stock opened at $133.27 on Wednesday. The company’s 50 day simple moving average is $126.46 and its 200-day simple moving average is $122.72. The firm has a market capitalization of $78.70 billion, a P/E ratio of 48.82, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the business earned $1.92 EPS. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Announces Dividend

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