Apollon Wealth Management LLC Raises Stake in Apollo Global Management Inc. $APO

Apollon Wealth Management LLC increased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 0.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,209 shares of the financial services provider’s stock after purchasing an additional 234 shares during the period. Apollon Wealth Management LLC’s holdings in Apollo Global Management were worth $4,286,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Conning Inc. lifted its holdings in Apollo Global Management by 20.8% during the 2nd quarter. Conning Inc. now owns 2,138 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 368 shares in the last quarter. Eastern Bank bought a new position in Apollo Global Management in the 2nd quarter worth about $52,000. Aberdeen Group plc increased its stake in Apollo Global Management by 4.4% in the 2nd quarter. Aberdeen Group plc now owns 425,934 shares of the financial services provider’s stock worth $60,636,000 after acquiring an additional 17,853 shares during the last quarter. PDS Planning Inc increased its stake in Apollo Global Management by 12.3% in the 2nd quarter. PDS Planning Inc now owns 2,154 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 236 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Apollo Global Management by 15.7% in the 2nd quarter. Blue Trust Inc. now owns 1,155 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 in the last ninety days. 8.20% of the stock is owned by insiders.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $118.34 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $67.69 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.68. The business’s 50-day moving average price is $136.21 and its 200-day moving average price is $136.22. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $1.64 EPS. Sell-side analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 38.13%.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. BMO Capital Markets initiated coverage on Apollo Global Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $132.00 target price on the stock. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday. Finally, Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.57.

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.