1832 Asset Management L.P. Acquires 37,070 Shares of Apollo Global Management, Inc. (NYSE:APO)

1832 Asset Management L.P. grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,294,530 shares of the financial services provider’s stock after acquiring an additional 37,070 shares during the quarter. 1832 Asset Management L.P. owned about 0.23% of Apollo Global Management worth $152,845,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. CWA Asset Management Group LLC boosted its position in shares of Apollo Global Management by 2.8% during the 4th quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 94 shares during the last quarter. FineMark National Bank & Trust lifted its position in Apollo Global Management by 2.4% in the 2nd quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock worth $486,000 after buying an additional 98 shares during the last quarter. Orion Capital Management LLC lifted its position in Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after buying an additional 100 shares during the last quarter. Lindbrook Capital LLC lifted its position in Apollo Global Management by 8.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock worth $147,000 after buying an additional 102 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in Apollo Global Management by 0.9% in the 1st quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 104 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

APO opened at $124.48 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.45. The stock has a market capitalization of $70.72 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The stock’s 50 day moving average price is $113.64 and its 200-day moving average price is $113.69.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results 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). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same quarter in the prior year, the firm earned $1.54 earnings per share. On average, equities research analysts predict that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared 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 was Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.49%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, 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 is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APO has been the subject of a number of recent research reports. Argus dropped their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods boosted their target price on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Redburn Atlantic initiated coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. Finally, TD Cowen lifted their price target on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. 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 stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

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.