Intech Investment Management LLC Increases Stock Holdings in Apollo Global Management Inc. $APO

Intech Investment Management LLC increased its holdings in Apollo Global Management Inc. (NYSE:APO) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,587 shares of the financial services provider’s stock after purchasing an additional 882 shares during the period. Intech Investment Management LLC’s holdings in Apollo Global Management were worth $2,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock valued at $75,347,000 after purchasing an additional 7,441 shares during the period. Clearview Wealth Advisors LLC grew its position in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider’s stock valued at $2,952,000 after purchasing an additional 17,418 shares during the period. Toronto Dominion Bank grew its position in shares of Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider’s stock valued at $26,864,000 after purchasing an additional 110,014 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Apollo Global Management in the first quarter valued at $871,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Apollo Global Management in the first quarter valued at $492,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI boosted their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Barclays boosted their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Citigroup boosted their price target on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.56.

Apollo Global Management Trading Up 0.5%

NYSE:APO opened at $138.73 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The business’s 50-day simple moving average is $141.82 and its 200 day simple moving average is $136.85. The stock has a market cap of $79.36 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. As a group, sell-side analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Apollo Global Management’s payout ratio is 38.13%.

Apollo Global Management Company Profile

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.