Greenwood Capital Associates LLC Purchases 2,984 Shares of Apollo Global Management Inc. $APO

Greenwood Capital Associates LLC boosted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,078 shares of the financial services provider’s stock after purchasing an additional 2,984 shares during the period. Greenwood Capital Associates LLC’s holdings in Apollo Global Management were worth $4,125,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Apollo Global Management by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock valued at $75,347,000 after purchasing an additional 7,441 shares during the last quarter. Clearview Wealth Advisors LLC increased its position in Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider’s stock valued at $2,952,000 after acquiring an additional 17,418 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Apollo Global Management in the 1st quarter valued at about $871,000. Elevation Point Wealth Partners LLC acquired a new stake in Apollo Global Management in the 1st quarter valued at about $492,000. Finally, True North Advisors LLC acquired a new stake in Apollo Global Management in the 1st quarter valued at about $2,097,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Down 2.2%

Shares of NYSE:APO opened at $127.09 on Friday. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company has a 50 day moving average of $138.85 and a 200-day moving average of $137.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $72.70 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 1.40 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter in the previous year, the company earned $1.64 EPS. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s payout ratio is currently 38.13%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on APO. Evercore ISI raised their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Barclays raised their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.93.

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.