Envestnet Asset Management Inc. Buys 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% during the 2nd quarter, Holdings Channel reports. The firm owned 423,836 shares of the financial services provider’s stock after purchasing an additional 13,935 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Apollo Global Management were worth $50,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Apollo Global Management by 150.8% during the 2nd quarter. Parallel Advisors LLC now owns 3,335 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 2,005 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted 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 valued at $1,205,000 after purchasing an additional 6,701 shares in the last quarter. Westover Capital Advisors LLC boosted its position in shares of Apollo Global Management by 27.4% during the 2nd quarter. Westover Capital Advisors LLC now owns 10,482 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 2,254 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $2,853,000. Finally, Zions Bancorporation N.A. boosted its position in shares of Apollo Global Management by 882.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,581 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price 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 document filed with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $117.57 on Thursday. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $126.45. The business has a fifty day moving average price of $113.58 and a 200-day moving average price of $113.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $66.80 billion, a P/E ratio of 13.02, a PEG ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 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 during the quarter, compared to the consensus estimate of $873.18 million. During the same period in the previous year, the business earned $1.54 earnings per share. As a group, equities research analysts forecast that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given 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 dividend payout ratio (DPR) is presently 20.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group upped their target price on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. TD Cowen upped 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. Finally, Redburn Partners began coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus 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.