AE Wealth Management LLC Acquires New Shares in Apollo Global Management, Inc. (NYSE:APO)

AE Wealth Management LLC bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,521 shares of the financial services provider’s stock, valued at approximately $416,000.

Other large investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its stake in Apollo Global Management by 1.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,046 shares of the financial services provider’s stock valued at $1,540,000 after acquiring an additional 191 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of Apollo Global Management by 3.9% in the second quarter. Ieq Capital LLC now owns 30,891 shares of the financial services provider’s stock valued at $3,647,000 after purchasing an additional 1,172 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Apollo Global Management in the second quarter valued at approximately $2,992,000. Carolinas Wealth Consulting LLC grew its position in shares of Apollo Global Management by 13.2% in the second quarter. Carolinas Wealth Consulting LLC now owns 2,159 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 252 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Apollo Global Management by 13.6% during the 2nd quarter. Hsbc Holdings PLC now owns 280,068 shares of the financial services provider’s stock worth $33,094,000 after purchasing an additional 33,484 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the topic of a number of analyst reports. Redburn Partners assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. TD Cowen increased their price objective on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Argus dropped their price objective 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. Wells Fargo & Company initiated coverage on shares of Apollo Global Management in a report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 target price on the stock. Finally, Barclays lowered their price target on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.65.

Apollo Global Management Stock Up 0.7 %

Shares of NYSE APO opened at $125.44 on Friday. The stock has a fifty day moving average price of $113.88 and a 200 day moving average price of $114.10. The company has a market cap of $71.27 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.30 and a beta of 1.61. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-month high of $126.93. 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 (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter in the previous year, the business posted $1.54 earnings per share. Research analysts anticipate that Apollo Global Management, Inc. will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.47%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity at Apollo Global Management

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

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.