Capital International Investors raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO – Get Rating) by 160.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,715,583 shares of the financial services provider’s stock after acquiring an additional 9,671,334 shares during the quarter. Capital International Investors owned approximately 2.75% of Apollo Global Management worth $974,209,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of APO. Vanguard Group Inc. boosted its position in Apollo Global Management by 87.8% during the 1st quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock valued at $2,316,818,000 after acquiring an additional 17,476,830 shares in the last quarter. BlackRock Inc. boosted its position in Apollo Global Management by 32.6% during the 1st quarter. BlackRock Inc. now owns 24,262,978 shares of the financial services provider’s stock valued at $1,504,064,000 after acquiring an additional 5,958,763 shares in the last quarter. Mariner LLC bought a new stake in Apollo Global Management during the 1st quarter valued at $353,603,000. State Street Corp boosted its position in Apollo Global Management by 91.1% during the 1st quarter. State Street Corp now owns 8,032,420 shares of the financial services provider’s stock valued at $497,930,000 after acquiring an additional 3,829,740 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in Apollo Global Management during the 1st quarter valued at $217,878,000. Institutional investors own 69.40% of the company’s stock.
Insider Buying and Selling at Apollo Global Management
In related news, Director Walter Joseph Clayton III acquired 5,000 shares of Apollo Global Management stock in a transaction on Tuesday, August 30th. The stock was acquired at an average price of $56.07 per share, for a total transaction of $280,350.00. Following the purchase, the director now owns 29,737 shares of the company’s stock, valued at approximately $1,667,353.59. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Martin Kelly sold 20,000 shares of Apollo Global Management stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $60.86, for a total value of $1,217,200.00. Following the completion of the transaction, the chief financial officer now owns 484,275 shares in the company, valued at approximately $29,472,976.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Walter Joseph Clayton III purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was acquired at an average price of $56.07 per share, with a total value of $280,350.00. Following the purchase, the director now owns 29,737 shares in the company, valued at $1,667,353.59. The disclosure for this purchase can be found here. Company insiders own 15.40% of the company’s stock.
Apollo Global Management Stock Performance
Apollo Global Management (NYSE:APO – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Apollo Global Management had a positive return on equity of 42.48% and a negative net margin of 44.62%. During the same quarter last year, the company posted $1.14 earnings per share. As a group, research analysts predict that Apollo Global Management, Inc. will post 5.17 EPS for the current year.
Apollo Global Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Thursday, August 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%. Apollo Global Management’s payout ratio is currently -51.45%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Barclays assumed coverage on Apollo Global Management in a research report on Wednesday, August 31st. They issued an “overweight” rating and a $70.00 price objective for the company. Wells Fargo & Company lowered their price objective on Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Wednesday, May 18th. Oppenheimer raised their price objective on Apollo Global Management from $60.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Apollo Global Management from $91.00 to $87.00 in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.72.
About Apollo Global Management
Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
- Get a free copy of the StockNews.com research report on Apollo Global Management (APO)
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