Axxcess Wealth Management LLC Increases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Axxcess Wealth Management LLC grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APOGet Rating) by 124.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,691 shares of the financial services provider’s stock after buying an additional 5,367 shares during the period. Axxcess Wealth Management LLC’s holdings in Apollo Global Management were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of APO. Franklin Resources Inc. increased its position in shares of Apollo Global Management by 21.1% during the second quarter. Franklin Resources Inc. now owns 1,192,147 shares of the financial services provider’s stock worth $57,795,000 after purchasing an additional 207,732 shares in the last quarter. Rhumbline Advisers increased its position in shares of Apollo Global Management by 38.0% during the second quarter. Rhumbline Advisers now owns 447,366 shares of the financial services provider’s stock worth $21,688,000 after purchasing an additional 123,209 shares in the last quarter. Financial Architects Inc acquired a new stake in shares of Apollo Global Management during the second quarter worth about $520,000. O Shaughnessy Asset Management LLC increased its position in shares of Apollo Global Management by 59.4% during the second quarter. O Shaughnessy Asset Management LLC now owns 6,074 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 2,263 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Apollo Global Management by 8.0% during the second quarter. Clearbridge Investments LLC now owns 8,485,353 shares of the financial services provider’s stock worth $411,370,000 after purchasing an additional 626,230 shares in the last quarter. 69.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $64.88, for a total transaction of $1,297,600.00. Following the sale, the chief financial officer now owns 431,486 shares of the company’s stock, valued at approximately $27,994,811.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Martin Kelly sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $64.88, for a total transaction of $1,297,600.00. Following the sale, the chief financial officer now owns 431,486 shares of the company’s stock, valued at approximately $27,994,811.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter Joseph Clayton III purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were purchased at an average cost of $56.07 per share, for a total transaction of $280,350.00. Following the purchase, the director now directly owns 29,737 shares in the company, valued at $1,667,353.59. The disclosure for this purchase can be found here. Corporate insiders own 15.40% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO opened at $65.32 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $54.94 and its two-hundred day moving average is $54.80. Apollo Global Management, Inc. has a 12-month low of $45.62 and a 12-month high of $75.39. The stock has a market capitalization of $37.38 billion, a price-to-earnings ratio of -11.58 and a beta of 1.67.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, November 16th. Apollo Global Management’s dividend payout ratio (DPR) is -28.37%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Apollo Global Management from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Oppenheimer boosted their price target on Apollo Global Management from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Bank of America upgraded Apollo Global Management from an “underperform” rating to a “neutral” rating in a research report on Friday, September 23rd. They noted that the move was a valuation call. UBS Group dropped their price target on Apollo Global Management from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. Finally, TheStreet cut Apollo Global Management from a “c” rating to a “d+” rating in a research report on Wednesday, November 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.20.

Apollo Global Management Company Profile

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Apollo Global Management, Inc is a private equity firm specializing in 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.

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

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