Apollo Global Management, Inc. (NYSE:APO) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 150.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,335 shares of the financial services provider’s stock after purchasing an additional 2,005 shares during the quarter. Parallel Advisors LLC’s holdings in Apollo Global Management were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dai ichi Life Insurance Company Ltd raised its position in shares of Apollo Global Management by 191.2% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 10,205 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 6,701 shares during the period. Westover Capital Advisors LLC grew its holdings in Apollo Global Management by 27.4% in the 2nd quarter. Westover Capital Advisors LLC now owns 10,482 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 2,254 shares in the last quarter. CoreCap Advisors LLC bought a new position in Apollo Global Management in the 2nd quarter worth approximately $2,853,000. Zions Bancorporation N.A. grew its holdings in Apollo Global Management by 882.0% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,581 shares of the financial services provider’s stock worth $187,000 after buying an additional 1,420 shares in the last quarter. Finally, TradeLink Capital LLC bought a new position in Apollo Global Management in the 2nd quarter worth approximately $838,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APO. TD Cowen increased their price objective on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Redburn Atlantic began coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Barclays decreased their price objective on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

APO opened at $117.76 on Wednesday. The firm has a market cap of $66.91 billion, a PE ratio of 13.04, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $113.56 and a 200-day simple moving average of $113.44. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $126.45.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the prior year, the business earned $1.54 earnings per share. As a group, equities analysts predict that Apollo Global Management, Inc. will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.4625 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.57%. Apollo Global Management’s payout ratio is currently 20.49%.

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.