Apollo Global Management Inc. $APO Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in Apollo Global Management Inc. (NYSE:APO) by 0.6% in the second quarter, HoldingsChannel reports. The fund owned 962,514 shares of the financial services provider’s stock after acquiring an additional 6,117 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Apollo Global Management were worth $136,552,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of APO. First Business Financial Services Inc. acquired a new position in Apollo Global Management during the second quarter worth $1,103,000. Jackson Hole Capital Partners LLC raised its position in shares of Apollo Global Management by 4.6% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 71,291 shares of the financial services provider’s stock worth $10,114,000 after purchasing an additional 3,163 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Apollo Global Management by 0.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 172,141 shares of the financial services provider’s stock valued at $24,422,000 after buying an additional 946 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in Apollo Global Management in the 2nd quarter worth about $2,676,000. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new stake in Apollo Global Management in the 2nd quarter worth about $7,900,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 1.6%

Shares of NYSE APO opened at $125.06 on Friday. The company has a market capitalization of $71.54 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.43 and a beta of 1.68. 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 company has a 50 day simple moving average of $132.63 and a 200-day simple moving average of $136.13. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company’s stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, the insider directly 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 disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 over the last 90 days. 8.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on APO. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Friday. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price on the stock. Wells Fargo & Company upped their target price 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, Citigroup decreased their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $162.57.

Apollo Global Management Profile

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.