Joel Isaacson & Co. LLC Increases Position in Apollo Global Management Inc. $APO

Joel Isaacson & Co. LLC lifted its position in Apollo Global Management Inc. (NYSE:APO) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,952 shares of the financial services provider’s stock after acquiring an additional 1,266 shares during the period. Joel Isaacson & Co. LLC’s holdings in Apollo Global Management were worth $11,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS increased its holdings in shares of Apollo Global Management by 6.9% in the second quarter. KLP Kapitalforvaltning AS now owns 144,290 shares of the financial services provider’s stock valued at $20,470,000 after purchasing an additional 9,300 shares during the period. Valeo Financial Advisors LLC raised its position in Apollo Global Management by 36.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,558 shares of the financial services provider’s stock worth $363,000 after buying an additional 684 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Apollo Global Management by 9.5% during the 2nd quarter. DAVENPORT & Co LLC now owns 40,191 shares of the financial services provider’s stock valued at $5,702,000 after acquiring an additional 3,496 shares during the period. Iron Horse Wealth Management LLC boosted its holdings in shares of Apollo Global Management by 27.6% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,489 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 539 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC increased its stake in shares of Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 935,000 shares of company stock valued at $125,543,790. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. BMO Capital Markets began coverage on shares of Apollo Global Management in a research note on Friday. They set a “market perform” rating and a $132.00 price objective on the stock. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.07.

Apollo Global Management Trading Up 0.5%

APO stock opened at $126.54 on Tuesday. The stock has a market cap of $72.38 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.35 and a beta of 1.68. The business’s 50-day moving average is $137.90 and its 200 day moving average is $136.81. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

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 firm had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the previous year, the business earned $1.64 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given 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 presently 38.13%.

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.