Eastern Bank Invests $52,000 in Apollo Global Management Inc. $APO

Eastern Bank purchased a new position in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 368 shares of the financial services provider’s stock, valued at approximately $52,000.

A number of other hedge funds have also recently made changes to their positions in APO. GAMMA Investing LLC grew its holdings in Apollo Global Management by 61.8% during the 1st quarter. GAMMA Investing LLC now owns 4,478 shares of the financial services provider’s stock worth $613,000 after acquiring an additional 1,710 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Apollo Global Management by 37.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 15,244 shares of the financial services provider’s stock worth $2,088,000 after acquiring an additional 4,129 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in Apollo Global Management by 52.6% during the 1st quarter. Simon Quick Advisors LLC now owns 2,297 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 792 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Apollo Global Management during the 1st quarter worth about $492,000. Finally, CVA Family Office LLC grew its holdings in Apollo Global Management by 19.7% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 88 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Evercore ISI increased their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price on the stock. Barclays dropped their target price on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup increased their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Finally, Piper Sandler reissued an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.57.

Apollo Global Management Stock Performance

APO stock opened at $118.34 on Monday. The firm has a market cap of $67.69 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.29 and a beta of 1.68. The firm has a 50-day simple moving average of $136.21 and a two-hundred day simple moving average of $136.18. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, equities analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal 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 given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 38.13%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction that occurred on 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 directly owned 83,192 shares of the company’s stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock valued at $125,543,790 in the last three months. 8.50% of the stock is owned by insiders.

Apollo Global Management Company 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.