Carolinas Wealth Consulting LLC Acquires 252 Shares of Apollo Global Management, Inc. (NYSE:APO)

Carolinas Wealth Consulting LLC increased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,159 shares of the financial services provider’s stock after purchasing an additional 252 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Apollo Global Management were worth $255,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management in the second quarter worth $35,000. DSM Capital Partners LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth $31,000. J.Safra Asset Management Corp grew its stake in shares of Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth $33,000. Finally, Riverview Trust Co bought a new stake in shares of Apollo Global Management in the first quarter worth $45,000. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $117.57 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.45. The firm has a market capitalization of $66.80 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.13 and a beta of 1.61. The firm’s 50-day moving average price is $113.58 and its 200-day moving average price is $113.49.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same quarter in the prior year, the company earned $1.54 EPS. Equities research analysts anticipate that Apollo Global Management, Inc. will post 6.62 earnings per share 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. Investors of record on Friday, August 16th were issued a $0.4625 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is presently 20.49%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price target for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Evercore ISI upped their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Redburn Atlantic assumed coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Redburn Partners assumed coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Finally, UBS Group upped their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.06.

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.