Main Street Financial Solutions LLC Purchases Shares of 4,411 Apollo Global Management Inc. $APO

Main Street Financial Solutions LLC purchased a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,411 shares of the financial services provider’s stock, valued at approximately $522,000.

A number of other hedge funds have also modified their holdings of APO. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the 4th quarter valued at approximately $29,000. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management during the first quarter worth $29,000. Steigerwald Gordon & Koch Inc. increased its position in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Osbon Capital Management LLC acquired a new position in shares of Apollo Global Management in the fourth quarter worth $36,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% 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, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Down 0.5%

APO stock opened at $133.91 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $79.08 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.26 and a beta of 1.51. The business has a fifty day simple moving average of $126.70 and a 200-day simple moving average of $122.72. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period last year, the firm posted $1.92 EPS. On average, equities research analysts expect that Apollo Global Management Inc. will post 8.12 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Wall Street Analyst Weigh In

APO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. BMO Capital Markets reduced their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Piper Sandler decreased their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Apollo Global Management in a report on Friday, August 7th. Finally, Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.