Cassaday & Co Wealth Management LLC Purchases New Holdings in Apollo Global Management Inc. $APO

Cassaday & Co Wealth Management LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,068 shares of the financial services provider’s stock, valued at approximately $293,000.

A number of other hedge funds have also added to or reduced their stakes in APO. GW&K Investment Management LLC increased its stake in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Activest Wealth Management increased its stake in Apollo Global Management by 875.0% in the second 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 during the last quarter. Rosenberg Matthew Hamilton increased its stake in Apollo Global Management by 6,900.0% in the second 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 last quarter. Bay Harbor Wealth Management LLC increased its stake in Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 260 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in Apollo Global Management in the first quarter valued at approximately $42,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 5.2%

Shares of APO opened at $130.40 on Wednesday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The stock has a market capitalization of $74.59 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.42 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a fifty day moving average of $131.22 and a 200-day moving average of $136.20.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management’s payout ratio is currently 38.13%.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on APO shares. Wall Street Zen cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price on the stock. Citigroup decreased their target price on shares of 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. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company increased their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $162.57.

Apollo Global Management 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.