Ethic Inc. Purchases 4,230 Shares of Apollo Global Management Inc. $APO

Ethic Inc. raised its position in shares of Apollo Global Management Inc. (NYSE:APO) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,962 shares of the financial services provider’s stock after purchasing an additional 4,230 shares during the period. Ethic Inc.’s holdings in Apollo Global Management were worth $7,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC boosted its holdings in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the period. Activest Wealth Management boosted its holdings in shares of Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 175 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the period. Bay Harbor Wealth Management LLC boosted its holdings 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. Finally, Rise Advisors LLC bought a new position in shares of Apollo Global Management in the first quarter worth $42,000. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider owned 83,192 shares in the company, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock worth $125,543,790 over the last 90 days. Corporate insiders own 8.20% of the company’s stock.

Apollo Global Management Trading Up 0.4%

Shares of APO stock opened at $126.43 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The company has a market capitalization of $72.32 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.44 and a beta of 1.68. The business’s fifty day moving average is $133.27 and its 200 day moving average is $135.77.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $1.64 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APO shares. BMO Capital Markets started coverage on Apollo Global Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price target for the company. Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Citigroup cut their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $162.57.

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.