Raymond James & Associates Grows Stock Holdings in Apollo Global Management LLC (NYSE:APO)

Raymond James & Associates lifted its stake in Apollo Global Management LLC (NYSE:APO) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 408,964 shares of the financial services provider’s stock after purchasing an additional 6,444 shares during the quarter. Raymond James & Associates owned about 0.18% of Apollo Global Management worth $20,415,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Apollo Global Management by 46.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 588,058 shares of the financial services provider’s stock worth $16,613,000 after buying an additional 186,658 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at $246,000. Bank of New York Mellon Corp lifted its stake in shares of Apollo Global Management by 316.4% in the 4th quarter. Bank of New York Mellon Corp now owns 278,368 shares of the financial services provider’s stock valued at $13,281,000 after purchasing an additional 211,515 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Apollo Global Management during the 4th quarter worth $753,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $70,716,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Shares of NYSE:APO opened at $49.10 on Friday. Apollo Global Management LLC has a one year low of $19.46 and a one year high of $55.38. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of -153.44, a PEG ratio of 1.48 and a beta of 1.65. The company has a 50-day simple moving average of $50.71 and a 200-day simple moving average of $44.46. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $442.94 million. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, research analysts forecast that Apollo Global Management LLC will post 1.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, August 17th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.42. This represents a $1.96 annualized dividend and a dividend yield of 3.99%. Apollo Global Management’s dividend payout ratio (DPR) is currently 61.99%.

In other news, Director Marc J. Rowan sold 157,100 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $43.78, for a total transaction of $6,877,838.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc J. Rowan sold 174,972 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $41.47, for a total transaction of $7,256,088.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,187,598 shares of company stock worth $51,642,778. 46.90% of the stock is currently owned by insiders.

Several research analysts have weighed in on the stock. Bank of America lowered their target price on shares of Apollo Global Management from $54.00 to $53.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their price objective on shares of Apollo Global Management from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday. Goldman Sachs Group lowered Apollo Global Management from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, June 30th. Cfra upped their price target on Apollo Global Management from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, ValuEngine cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $56.29.

Apollo Global Management Company 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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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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