MassMutual Private Wealth & Trust FSB Increases Stock Position in Apollo Global Management Inc. $APO

MassMutual Private Wealth & Trust FSB grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 42.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,563 shares of the financial services provider’s stock after buying an additional 464 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Apollo Global Management were worth $222,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. RMR Wealth Builders raised its stake in shares of Apollo Global Management by 8.3% in the 2nd quarter. RMR Wealth Builders now owns 2,163 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 166 shares in the last quarter. Parallel Advisors LLC grew its position in Apollo Global Management by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 4,344 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 515 shares during the last quarter. RDA Financial Network bought a new position in shares of Apollo Global Management in the second quarter valued at approximately $206,000. Doliver Advisors LP boosted its holdings in shares of Apollo Global Management by 8.4% in the second quarter. Doliver Advisors LP now owns 18,591 shares of the financial services provider’s stock valued at $2,638,000 after acquiring an additional 1,448 shares in the last quarter. Finally, First National Bank Sioux Falls lifted its stake in Apollo Global Management by 3.7% during the second quarter. First National Bank Sioux Falls now owns 29,169 shares of the financial services provider’s stock valued at $4,138,000 after purchasing an additional 1,042 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI upped their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Barclays increased their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $164.56.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction on 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 directly owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 4,526,000 shares in the company, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 in the last quarter. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 3.1%

APO stock opened at $143.08 on Friday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company’s 50-day simple moving average is $141.47 and its 200 day simple moving average is $136.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $81.85 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.50 and a beta of 1.69.

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

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio is currently 38.13%.

Apollo Global Management 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.