Envestnet Asset Management Inc. Acquires 13,935 Shares of Apollo Global Management, Inc. (NYSE:APO)

Envestnet Asset Management Inc. lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 423,836 shares of the financial services provider’s stock after acquiring an additional 13,935 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Apollo Global Management worth $50,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DSM Capital Partners LLC bought a new stake in Apollo Global Management in the 4th quarter valued at $31,000. True Wealth Design LLC bought a new stake in Apollo Global Management in the 4th quarter valued at $33,000. Cullen Frost Bankers Inc. bought a new stake in Apollo Global Management in the 2nd quarter valued at $35,000. Carolinas Wealth Consulting LLC bought a new stake in Apollo Global Management in the 4th quarter valued at $38,000. Finally, J.Safra Asset Management Corp boosted its stake in Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 305 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Argus reduced their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Evercore ISI lifted their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Redburn Partners 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. Wells Fargo & Company began coverage on Apollo Global Management in a report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Apollo Global Management Trading Down 0.2 %

Shares of APO stock opened at $117.57 on Thursday. 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. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $126.45. 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 stock’s fifty day simple moving average is $113.58 and its 200 day simple moving average is $113.49.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data 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). The firm 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 quarter in the prior year, the firm earned $1.54 EPS. As a group, sell-side analysts predict that Apollo Global Management, Inc. will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

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

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.