Bogart Wealth LLC lifted its position in shares of Apollo Global Management, Inc. (NYSE:APO – Get Rating) by 1,395.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 643 shares of the financial services provider's stock after buying an additional 600 shares during the period. Bogart Wealth LLC's holdings in Apollo Global Management were worth $31,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 17,476,830 shares in the last quarter. Capital World Investors boosted its position in shares of Apollo Global Management by 151.6% during the first quarter. Capital World Investors now owns 31,006,365 shares of the financial services provider's stock valued at $1,922,085,000 after purchasing an additional 18,681,592 shares in the last quarter. BlackRock Inc. boosted its position in shares of Apollo Global Management by 32.6% during the first quarter. BlackRock Inc. now owns 24,262,978 shares of the financial services provider's stock valued at $1,504,064,000 after purchasing an additional 5,958,763 shares in the last quarter. Capital International Investors boosted its position in shares of Apollo Global Management by 160.0% during the first quarter. Capital International Investors now owns 15,715,583 shares of the financial services provider's stock valued at $974,209,000 after purchasing an additional 9,671,334 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Apollo Global Management by 91.2% during the first quarter. Neuberger Berman Group LLC now owns 9,281,645 shares of the financial services provider's stock valued at $575,396,000 after purchasing an additional 4,426,790 shares in the last quarter. 69.40% of the stock is owned by hedge funds and other institutional investors.
Get Apollo Global Management alerts:Apollo Global Management Price Performance
Shares of Apollo Global Management stock opened at $46.50 on Monday. The stock has a 50 day moving average of $55.96 and a 200 day moving average of $55.32. Apollo Global Management, Inc. has a 12 month low of $45.97 and a 12 month high of $81.07. The firm has a market cap of $26.55 billion, a PE ratio of -14.95, a PEG ratio of 0.58 and a beta of 1.64. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04.
Apollo Global Management (NYSE:APO – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.06 EPS 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 firm earned $1.14 earnings per share. On average, research analysts expect that Apollo Global Management, Inc. will post 5.17 EPS for the current fiscal 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 given 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 yield of 3.44%. Apollo Global Management's dividend payout ratio (DPR) is presently -51.45%.
Insider Buying and Selling at Apollo Global Management
In related news, Director Walter Joseph Clayton III acquired 5,000 shares of the firm's stock in a transaction on Tuesday, August 30th. The shares were acquired at an average cost of $56.07 per share, for a total transaction of $280,350.00. Following the completion of the transaction, the director now directly owns 29,737 shares in the company, valued at approximately $1,667,353.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Apollo Global Management news, Director Walter Joseph Clayton III purchased 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, August 30th. The shares were purchased at an average cost of $56.07 per share, for a total transaction of $280,350.00. Following the completion of the acquisition, the director now owns 29,737 shares in the company, valued at approximately $1,667,353.59. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 484,275 shares in the company, valued at $29,472,976.50. The disclosure for this sale can be found here. Company insiders own 15.40% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on APO shares. Deutsche Bank Aktiengesellschaft decreased their price target on Apollo Global Management from $91.00 to $87.00 in a research note on Friday, August 12th. Morgan Stanley upped their price objective on Apollo Global Management from $60.00 to $61.00 and gave the company an "equal weight" rating in a research report on Monday, August 15th. Oppenheimer upped their price objective on Apollo Global Management from $60.00 to $61.00 and gave the company an "outperform" rating in a research report on Monday, August 8th. Bank of America upgraded Apollo Global Management from an "underperform" rating to a "neutral" rating in a research report on Friday, September 23rd. They noted that the move was a valuation call. Finally, Barclays began coverage on Apollo Global Management in a report on Wednesday, August 31st. They set an "overweight" rating and a $70.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.72.
Apollo Global Management Company Profile
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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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