Apollo Global Management, Inc. (NYSE:APO) Stake Boosted by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 32.3% during the second quarter, HoldingsChannel reports. The fund owned 5,162 shares of the financial services provider’s stock after purchasing an additional 1,261 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Apollo Global Management were worth $609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APO. Cullen Frost Bankers Inc. acquired a new position in Apollo Global Management in the 2nd quarter worth about $35,000. J.Safra Asset Management Corp increased its holdings in Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares during the last quarter. True Wealth Design LLC acquired a new position in Apollo Global Management in the fourth quarter worth approximately $33,000. Riverview Trust Co bought a new position in Apollo Global Management during the first quarter valued at approximately $45,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $38,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Redburn Partners started coverage on shares of 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. Barclays lowered their target price on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. 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, Wolfe Research began coverage on Apollo Global Management in a research note on Wednesday. They issued an “outperform” rating and a $139.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.65.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The stock was bought 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 $9,007,801.68. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Down 0.1 %

APO opened at $125.06 on Wednesday. The business has a 50 day moving average of $113.72 and a 200-day moving average of $113.94. The stock has a market capitalization of $71.23 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 1.30 and a beta of 1.61. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.93.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results 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). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $873.18 million. During the same period last year, the company earned $1.54 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced 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. This represents a $1.85 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, August 16th. 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.