LGT Capital Partners LTD. Increases Position in Apollo Global Management Inc. $APO

LGT Capital Partners LTD. boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 4.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 292,000 shares of the financial services provider’s stock after purchasing an additional 13,500 shares during the period. Apollo Global Management comprises 1.8% of LGT Capital Partners LTD.’s portfolio, making the stock its 19th largest position. LGT Capital Partners LTD.’s holdings in Apollo Global Management were worth $41,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of APO. GW&K Investment Management LLC raised its position in shares of 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 valued at $26,000 after purchasing an additional 87 shares in the last quarter. Activest Wealth Management increased its stake in shares of Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after buying an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. Andra AP fonden bought a new position in Apollo Global Management during the 2nd quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC boosted its stake in Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 260 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 1.4%

NYSE:APO opened at $130.56 on Friday. The firm has a market capitalization of $74.68 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The stock has a 50 day moving average of $130.66 and a 200-day moving average of $136.25. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. 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 Announces Dividend

The business also recently announced 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 1.6%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is presently 29.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. BMO Capital Markets assumed coverage on Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Barclays increased their target price on Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley lowered their price target on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Company insiders own 8.20% of the company’s stock.

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.