The Manufacturers Life Insurance Company Decreases Stake in Apollo Global Management, Inc. (NYSE:APO)

The Manufacturers Life Insurance Company trimmed its position in Apollo Global Management, Inc. (NYSE:APO) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,485 shares of the financial services provider’s stock after selling 1,541 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Apollo Global Management were worth $6,787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of APO. Curated Wealth Partners LLC grew its position in Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after buying an additional 4,717,661 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after acquiring an additional 1,360,525 shares in the last quarter. Third Point LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $83,871,000. Vanguard Group Inc. grew its position in Apollo Global Management by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after acquiring an additional 750,781 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Apollo Global Management by 199.8% during the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock worth $104,041,000 after acquiring an additional 616,575 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost 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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APO. BMO Capital Markets upped their target price on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on Apollo Global Management from $132.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their price objective on Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI lifted their price target on shares of Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and cut their target price for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.78.

Apollo Global Management Stock Up 3.0 %

Apollo Global Management stock opened at $135.33 on Friday. The company has a market capitalization of $76.89 billion, a PE ratio of 14.99, a PEG ratio of 1.30 and a beta of 1.62. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-month high of $136.26. The firm’s fifty day moving average is $114.83 and its 200 day moving average is $114.95. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

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 (EPS) 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 company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same period last year, the company 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid 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 1.37%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Apollo Global Management Company 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.