Ieq Capital LLC Takes Position in Apollo Global Management Inc. $APO

Ieq Capital LLC bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 32,831 shares of the financial services provider’s stock, valued at approximately $3,884,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC acquired a new stake in Apollo Global Management during the 4th quarter valued at $1,599,000. Vanguard Group Inc. grew its holdings in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after purchasing an additional 340,956 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Apollo Global Management during the 1st quarter worth $2,641,000. Finally, State of New Jersey Common Pension Fund D increased its stake in Apollo Global Management by 6.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 148,803 shares of the financial services provider’s stock worth $21,541,000 after buying an additional 9,055 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of APO stock opened at $132.72 on Tuesday. The firm has a fifty day moving average of $126.57 and a two-hundred day moving average of $122.72. The firm has a market cap of $78.38 billion, a P/E ratio of 48.62, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO) last issued its 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). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the company posted $1.92 EPS. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s payout ratio is currently 82.42%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on APO. Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. BMO Capital Markets cut their price target on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Finally, Barclays lifted their price objective on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $152.77.

About Apollo Global Management

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.