Rational Advisors LLC lifted its stake in Apollo Global Management, Inc. (NYSE:APO – Free Report) by 650.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,801 shares of the financial services provider’s stock after acquiring an additional 5,028 shares during the quarter. Rational Advisors LLC’s holdings in Apollo Global Management were worth $366,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of Apollo Global Management by 7,183.3% in the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 431 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Apollo Global Management in the first quarter valued at about $30,000. Ronald Blue Trust Inc. increased its position in shares of Apollo Global Management by 274.8% in the first quarter. Ronald Blue Trust Inc. now owns 491 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 360 shares during the last quarter. Close Asset Management Ltd acquired a new position in Apollo Global Management during the first quarter worth approximately $32,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in Apollo Global Management during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 60.86% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on APO. StockNews.com began coverage on Apollo Global Management in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup boosted their price target on Apollo Global Management from $91.00 to $100.00 in a research report on Friday, August 4th. TheStreet raised Apollo Global Management from a “c+” rating to a “b-” rating in a research report on Tuesday, June 20th. Wells Fargo & Company boosted their price target on Apollo Global Management from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Barclays boosted their price target on Apollo Global Management from $92.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.79.
Insider Buying and Selling
In related news, insider James C. Zelter sold 3,010 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $77.51, for a total transaction of $233,305.10. Following the sale, the insider now owns 5,776,159 shares of the company’s stock, valued at $447,710,084.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Apollo Global Management news, insider James C. Zelter sold 60,779 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $79.22, for a total value of $4,814,912.38. Following the sale, the insider now owns 5,678,785 shares of the company’s stock, valued at approximately $449,873,347.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James C. Zelter sold 3,010 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $77.51, for a total value of $233,305.10. Following the completion of the sale, the insider now directly owns 5,776,159 shares in the company, valued at approximately $447,710,084.09. The disclosure for this sale can be found here. Insiders have sold 110,959 shares of company stock valued at $8,719,609 over the last 90 days. 8.70% of the stock is owned by corporate insiders.
Apollo Global Management Trading Up 0.8 %
Shares of NYSE:APO opened at $87.86 on Friday. The company has a market capitalization of $49.80 billion, a P/E ratio of 41.64, a P/E/G ratio of 0.62 and a beta of 1.67. Apollo Global Management, Inc. has a 1 year low of $45.62 and a 1 year high of $88.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50 day simple moving average is $81.94 and its 200 day simple moving average is $71.65.
Apollo Global Management (NYSE:APO – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.06). The company had revenue of $793.00 million for the quarter, compared to analyst estimates of $781.82 million. Apollo Global Management had a return on equity of 109.78% and a net margin of 4.91%. On average, research analysts anticipate that Apollo Global Management, Inc. will post 6.3 EPS for the current fiscal year.
Apollo Global Management Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Friday, August 18th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Thursday, August 17th. Apollo Global Management’s dividend payout ratio is currently 81.52%.
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.
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