BigSur Wealth Management LLC Acquires Shares of 3,000 Apollo Global Management Inc. $APO

BigSur Wealth Management LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the financial services provider’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perennial Advisors LLC purchased a new position in Apollo Global Management in the second quarter valued at $255,000. Beacon Investment Advisory Services Inc. lifted its holdings in Apollo Global Management by 6.9% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 56,158 shares of the financial services provider’s stock worth $7,967,000 after buying an additional 3,624 shares during the last quarter. Northside Capital Management LLC purchased a new stake in Apollo Global Management during the 2nd quarter worth about $9,384,000. Ballentine Partners LLC boosted its position in shares of Apollo Global Management by 5.1% during the 2nd quarter. Ballentine Partners LLC now owns 4,574 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 222 shares in the last quarter. Finally, AM Investment Strategies LLC increased its holdings in shares of Apollo Global Management by 4.8% in the 2nd quarter. AM Investment Strategies LLC now owns 65,969 shares of the financial services provider’s stock valued at $9,358,000 after acquiring an additional 2,993 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of several research analyst reports. Evercore ISI raised their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Wells Fargo & Company increased their price target 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. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Barclays boosted their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Citigroup increased their target price on shares of 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 analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.27.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $137.57 on Thursday. The stock has a market cap of $78.69 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.56 and a beta of 1.69. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The stock has a 50 day moving average of $141.01 and a two-hundred day moving average of $137.06. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $1.64 earnings per share. On average, research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management’s payout ratio is currently 38.13%.

Insider Activity

In other news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 935,000 shares of company stock valued at $125,543,790. Insiders own 8.20% of the company’s stock.

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.