Sumitomo Mitsui Trust Group Inc. Acquires 6,117 Shares of Apollo Global Management Inc. $APO

Sumitomo Mitsui Trust Group Inc. grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 962,514 shares of the financial services provider’s stock after purchasing an additional 6,117 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of Apollo Global Management worth $136,552,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of APO. GW&K Investment Management LLC increased its holdings in Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Activest Wealth Management boosted its position in Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares during the period. Bay Harbor Wealth Management LLC raised its position in shares of Apollo Global Management by 5,200.0% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Apollo Global Management during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup cut their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Barclays cut their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Wells Fargo & Company increased 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 report on Friday, July 11th. Morgan Stanley reduced their price target on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.57.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. The trade was 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 worth $125,543,790 over the last three months. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Up 1.6%

NYSE APO opened at $125.06 on Friday. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a fifty day simple moving average of $132.63 and a two-hundred day simple moving average of $136.13. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market cap of $71.54 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.43 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the prior year, the firm earned $1.64 EPS. On average, analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio is currently 38.13%.

About Apollo Global Management

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.