Stephens Inc. AR raised its holdings in shares of Apollo Global Management LLC (NYSE:APO) by 317.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,106 shares of the financial services provider’s stock after acquiring an additional 69,306 shares during the quarter. Stephens Inc. AR’s holdings in Apollo Global Management were worth $3,125,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Morse Asset Management Inc boosted its position in shares of Apollo Global Management by 66.3% during the second quarter. Morse Asset Management Inc now owns 52,725 shares of the financial services provider’s stock valued at $1,808,000 after buying an additional 21,025 shares during the period. Tocqueville Asset Management L.P. purchased a new position in shares of Apollo Global Management during the second quarter valued at approximately $300,000. Janus Henderson Group PLC boosted its position in shares of Apollo Global Management by 387.3% during the second quarter. Janus Henderson Group PLC now owns 3,675,355 shares of the financial services provider’s stock valued at $126,065,000 after buying an additional 2,921,103 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Apollo Global Management by 53.4% during the second quarter. BNP Paribas Arbitrage SA now owns 10,739 shares of the financial services provider’s stock valued at $368,000 after buying an additional 3,738 shares during the period. Finally, MBM Wealth Consultants LLC boosted its position in shares of Apollo Global Management by 6.2% during the second quarter. MBM Wealth Consultants LLC now owns 11,108 shares of the financial services provider’s stock valued at $381,000 after buying an additional 648 shares during the period. 75.17% of the stock is currently owned by institutional investors and hedge funds.
APO has been the subject of several research analyst reports. JMP Securities lifted their price target on shares of Apollo Global Management from $36.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, June 7th. Credit Suisse Group raised shares of Apollo Global Management from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $39.00 to $42.00 in a research note on Tuesday, May 21st. Morgan Stanley boosted their price objective on shares of Apollo Global Management from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. TheStreet raised shares of Apollo Global Management from a “c” rating to an “a-” rating in a research note on Friday, May 3rd. Finally, Barclays started coverage on shares of Apollo Global Management in a research note on Monday, August 5th. They issued an “overweight” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Apollo Global Management has a consensus rating of “Buy” and an average target price of $39.56.
NYSE APO traded up $0.89 on Friday, hitting $32.00. The stock had a trading volume of 1,625,100 shares, compared to its average volume of 1,857,415. The business’s fifty day moving average price is $34.34 and its 200 day moving average price is $31.63. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.64 and a quick ratio of 1.64. Apollo Global Management LLC has a 52-week low of $22.63 and a 52-week high of $36.49. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -152.38, a price-to-earnings-growth ratio of 0.86 and a beta of 1.50.
Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.02). The business had revenue of $523.30 million for the quarter, compared to analyst estimates of $398.72 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s revenue was down 17.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Apollo Global Management LLC will post 2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.50 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Thursday, August 15th. Apollo Global Management’s payout ratio is currently -876.19%.
In other news, Director Pauline Richards purchased 2,720 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $30.85 per share, with a total value of $83,912.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 49.50% of the stock is currently owned by insiders.
Apollo Global Management Profile
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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