AIA Group Ltd Makes New $188,000 Investment in Apollo Global Management, Inc. (NYSE:APO)

AIA Group Ltd purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APOGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,025 shares of the financial services provider’s stock, valued at approximately $188,000.

Several other institutional investors have also modified their holdings of the business. Evoke Wealth LLC bought a new position in Apollo Global Management in the fourth quarter valued at approximately $25,000. Byrne Asset Management LLC acquired a new position in Apollo Global Management in the 4th quarter worth $25,000. Clearstead Advisors LLC acquired a new position in Apollo Global Management in the 4th quarter worth $27,000. CWM LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at about $32,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $40,000. Institutional investors own 61.48% of the company’s stock.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $57.53 on Friday. The stock has a 50-day simple moving average of $53.20 and a 200 day simple moving average of $58.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.26. Apollo Global Management, Inc. has a 52 week low of $45.97 and a 52 week high of $81.07.

Apollo Global Management (NYSE:APOGet Rating) last issued its earnings results on Thursday, August 4th. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Apollo Global Management had a positive return on equity of 36.22% and a negative net margin of 44.62%. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, sell-side analysts forecast that Apollo Global Management, Inc. will post 5.3 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Thursday, August 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, August 17th. Apollo Global Management’s payout ratio is presently -51.45%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APO shares. Wells Fargo & Company dropped their target price on Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Morgan Stanley cut shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $81.00 to $60.00 in a report on Tuesday, July 19th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. TheStreet cut Apollo Global Management from a “b” rating to a “c” rating in a report on Thursday, May 5th. Finally, Citigroup dropped their target price on Apollo Global Management from $105.00 to $87.50 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.44.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $54.60, for a total value of $819,000.00. Following the transaction, the chief financial officer now owns 526,385 shares in the company, valued at approximately $28,740,621. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

Apollo Global Management Profile

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Apollo Global Management, Inc is a private equity firm specializing investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

Further Reading

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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