Mmbg Investment Advisors CO. Buys Shares of 22,039 Apollo Global Management Inc. $APO

Mmbg Investment Advisors CO. bought a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,039 shares of the financial services provider’s stock, valued at approximately $2,607,000.

Other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in Apollo Global Management by 16.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after buying an additional 82 shares during the period. Broadway Wealth Solutions Inc. grew its stake in Apollo Global Management by 3.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 87 shares in the last quarter. First Horizon Corp increased its position in Apollo Global Management by 8.1% in the 4th quarter. First Horizon Corp now owns 1,228 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 92 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. Finally, Glen Eagle Advisors LLC raised its stake in shares of Apollo Global Management by 33.3% during the 4th quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 96 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Apollo Global Management in a research note on Friday, August 7th. HSBC started coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. BMO Capital Markets cut their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Stock Performance

NYSE:APO opened at $133.59 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm’s fifty day simple moving average is $126.74 and its 200 day simple moving average is $122.71. The firm has a market capitalization of $78.89 billion, a PE ratio of 48.94, a PEG ratio of 1.20 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the company earned $1.92 EPS. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.12 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. Shareholders of record on Wednesday, August 19th will be given a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 8.30% of the company’s stock.

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.