Freestone Grove Partners LP Takes $67.85 Million Position in Apollo Global Management Inc. $APO

Freestone Grove Partners LP bought a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 573,503 shares of the financial services provider’s stock, valued at approximately $67,851,000. Freestone Grove Partners LP owned about 0.10% of Apollo Global Management at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth about $29,000. Osbon Capital Management LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at about $36,000. Steigerwald Gordon & Koch Inc. boosted its position in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the period. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management during the 1st quarter worth approximately $29,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Apollo Global Management during the 2nd quarter worth approximately $31,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Up 0.3%

Apollo Global Management stock opened at $133.64 on Thursday. The stock has a 50 day moving average of $126.36 and a two-hundred day moving average of $122.78. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The stock has a market capitalization of $78.92 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 1.20 and a beta of 1.51. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the firm posted $1.92 EPS. As a group, research analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s payout ratio is currently 82.42%.

Analyst Upgrades and Downgrades

APO has been the topic of several research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Barclays raised their target price on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Morgan Stanley cut their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, UBS Group upped their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.