Marshall Wace LLP Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Marshall Wace LLP raised its stake in Apollo Global Management, Inc. (NYSE:APO) by 74.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 955,673 shares of the financial services provider’s stock after acquiring an additional 408,105 shares during the period. Marshall Wace LLP’s holdings in Apollo Global Management were worth $112,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of Apollo Global Management by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,775 shares of the financial services provider’s stock worth $2,588,000 after purchasing an additional 117 shares during the last quarter. Quest Partners LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $83,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Apollo Global Management by 49.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock worth $4,900,000 after purchasing an additional 17,361 shares during the period. US Bancorp DE increased its stake in shares of Apollo Global Management by 24.2% in the fourth quarter. US Bancorp DE now owns 8,263 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 1,608 shares in the last quarter. Finally, SageView Advisory Group LLC raised its position in shares of Apollo Global Management by 9.7% during the 4th quarter. SageView Advisory Group LLC now owns 2,751 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 244 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Performance

Shares of APO stock opened at $125.22 on Tuesday. The company’s 50 day moving average is $113.69 and its 200 day moving average is $113.83. 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 firm has a market cap of $71.15 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.93.

Apollo Global Management (NYSE:APO) last posted its 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 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 analysts’ expectations of $873.18 million. During the same period in the previous year, the company earned $1.54 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.48%. Apollo Global Management’s payout ratio is 20.49%.

Insider Activity

In related news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the transaction, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on APO shares. Argus decreased their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Barclays reduced their price objective on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus price target of $129.06.

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.