Nissay Asset Management Corp Japan ADV acquired a new stake in shares of Apollo Global Management LLC (NYSE:APO) during the second quarter, HoldingsChannel reports. The fund acquired 17,539 shares of the financial services provider’s stock, valued at approximately $876,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in APO. Invesco Ltd. raised its stake in Apollo Global Management by 52.0% in the first quarter. Invesco Ltd. now owns 8,664,347 shares of the financial services provider’s stock worth $290,255,000 after buying an additional 2,963,477 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Apollo Global Management by 8.0% in the 1st quarter. Clearbridge Investments LLC now owns 7,202,814 shares of the financial services provider’s stock valued at $241,294,000 after buying an additional 530,633 shares during the period. BlackRock Inc. grew its holdings in Apollo Global Management by 13.8% during the first quarter. BlackRock Inc. now owns 4,663,917 shares of the financial services provider’s stock worth $156,241,000 after acquiring an additional 566,447 shares during the period. Capital International Investors raised its position in Apollo Global Management by 121.8% during the first quarter. Capital International Investors now owns 4,620,443 shares of the financial services provider’s stock valued at $154,785,000 after acquiring an additional 2,537,443 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its holdings in Apollo Global Management by 0.3% in the first quarter. Beck Mack & Oliver LLC now owns 3,435,787 shares of the financial services provider’s stock valued at $115,099,000 after acquiring an additional 10,265 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets lowered shares of Apollo Global Management from an “outperform” rating to a “market perform” rating and set a $43.00 target price for the company. in a report on Thursday, May 14th. They noted that the move was a valuation call. Morgan Stanley upped their price target on Apollo Global Management from $42.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Wells Fargo & Co lifted their price target on Apollo Global Management from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Citigroup cut shares of Apollo Global Management from a “buy” rating to a “neutral” rating in a research note on Monday, June 8th. Finally, Cfra upped their price objective on shares of Apollo Global Management from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $56.29.
In related news, Director Marc J. Rowan sold 174,972 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $41.47, for a total value of $7,256,088.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc J. Rowan sold 486,519 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $44.76, for a total value of $21,776,590.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,187,598 shares of company stock valued at $51,642,778 in the last ninety days. 46.90% of the stock is currently owned by corporate insiders.
Shares of Apollo Global Management stock opened at $49.10 on Friday. The firm has a market cap of $11.24 billion, a PE ratio of -153.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.65. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. Apollo Global Management LLC has a 52 week low of $19.46 and a 52 week high of $55.38. The business’s fifty day simple moving average is $50.71 and its 200-day simple moving average is $44.46.
Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, July 30th. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). Apollo Global Management had a net margin of 31.68% and a return on equity of 38.25%. The company had revenue of $467.01 million during the quarter, compared to analyst estimates of $442.94 million. During the same period in the previous year, the company earned $0.58 EPS. As a group, equities analysts expect that Apollo Global Management LLC will post 1.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Tuesday, August 18th will be given a dividend of $0.49 per share. The ex-dividend date is Monday, August 17th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.42. Apollo Global Management’s dividend payout ratio (DPR) is presently 61.99%.
Apollo Global Management Profile
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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