Turn8 Private Wealth Inc. Increases Stock Position in Apollo Global Management Inc. $APO

Turn8 Private Wealth Inc. lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,867 shares of the financial services provider’s stock after acquiring an additional 861 shares during the quarter. Apollo Global Management accounts for about 2.5% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 21st largest holding. Turn8 Private Wealth Inc.’s holdings in Apollo Global Management were worth $3,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC grew its position in Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Activest Wealth Management lifted its holdings in shares of Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after buying an additional 175 shares during the period. Rosenberg Matthew Hamilton boosted its stake in shares of Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the last quarter. Andra AP fonden purchased a new position in shares of Apollo Global Management in the 2nd quarter worth $31,000. Finally, Bay Harbor Wealth Management LLC grew its holdings in shares of Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup lowered their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. BMO Capital Markets started coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday. Barclays boosted their target price on shares of Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Evercore ISI increased their price target on shares of Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Insider Buying and Selling

In other news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Price Performance

NYSE APO opened at $132.90 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a market cap of $76.02 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.42 and a beta of 1.63. The company’s 50 day moving average is $130.78 and its two-hundred day moving average is $136.36.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.24. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $4.92 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company’s revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio is presently 29.82%.

About Apollo Global Management

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.