Apollo Global Management, Inc. (NYSE:APO) Holdings Lifted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV boosted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 16,820 shares of the financial services provider’s stock after purchasing an additional 1,071 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Apollo Global Management were worth $1,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Apollo Global Management by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 27,775 shares of the financial services provider’s stock valued at $2,588,000 after purchasing an additional 117 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth $83,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Apollo Global Management by 49.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock worth $4,900,000 after acquiring an additional 17,361 shares during the last quarter. US Bancorp DE raised its position in shares of Apollo Global Management by 24.2% during 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 during the period. Finally, SageView Advisory Group LLC lifted its holdings in shares of Apollo Global Management by 9.7% during the fourth 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 last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on APO shares. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Barclays reduced 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 research report on Friday, August 2nd. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. UBS Group boosted their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Redburn Partners initiated coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.06.

Apollo Global Management Trading Up 0.6 %

Apollo Global Management stock opened at $125.22 on Tuesday. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $126.93. The company’s fifty day moving average price is $113.69 and its two-hundred day moving average price is $113.83. 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 company has a market capitalization 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 (NYSE:APO) last issued its quarterly earnings data 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). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, analysts forecast that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.48%. Apollo Global Management’s payout ratio is 20.49%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.