Apollo Global Management Inc. $APO Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 167,353 shares of the financial services provider’s stock after acquiring an additional 7,397 shares during the quarter. Sterling Capital Management LLC’s holdings in Apollo Global Management were worth $23,742,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its position in shares of 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 worth $26,000 after buying an additional 87 shares during the period. Activest Wealth Management raised its holdings in shares of Apollo Global Management by 875.0% in the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after buying an additional 175 shares during the period. Rosenberg Matthew Hamilton lifted its stake in Apollo Global Management by 6,900.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. Andra AP fonden purchased a new position in Apollo Global Management during the 2nd quarter valued at about $31,000. Finally, Bay Harbor Wealth Management LLC boosted its holdings in Apollo Global Management by 5,200.0% during the 2nd 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 period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on APO shares. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Citigroup dropped their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Evercore ISI upped their price objective on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Barclays lifted their target price on Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $162.00.

Apollo Global Management Trading Down 3.5%

APO opened at $129.13 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company has a market cap of $73.87 billion, a P/E ratio of 24.14, a PEG ratio of 1.42 and a beta of 1.63. The business’s 50-day simple moving average is $131.03 and its 200-day simple moving average is $136.14.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $1.64 EPS. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction on Thursday, September 4th. The shares were 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 $606,619,780. This trade represents a 16.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.50% of the company’s stock.

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.