Prosperity Consulting Group LLC Invests $206,000 in Apollo Global Management Inc. $APO

Prosperity Consulting Group LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,452 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd lifted its holdings in Apollo Global Management by 14.4% in the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 78 shares in the last quarter. Walled Lake Planning & Wealth Management LLC raised its position in shares of Apollo Global Management by 3.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock valued at $345,000 after buying an additional 80 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of 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 buying an additional 87 shares during the last quarter. Tower Wealth Partners Inc. lifted its stake in shares of Apollo Global Management by 4.7% during the second quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock valued at $296,000 after buying an additional 94 shares during the period. Finally, Arkadios Wealth Advisors boosted its position in Apollo Global Management by 0.9% during the first quarter. Arkadios Wealth Advisors now owns 10,896 shares of the financial services provider’s stock worth $1,492,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 3.5%

APO stock opened at $129.13 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $73.87 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.42 and a beta of 1.63. The business has a fifty day simple moving average of $131.03 and a 200-day simple moving average of $136.14. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

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

Apollo Global Management Announces Dividend

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

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the firm’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 transaction, the chief financial officer 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Evercore ISI upped their target price on Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup decreased their price target 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. Finally, Keefe, Bruyette & Woods lifted their price target on Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $162.00.

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.