Leo Wealth LLC Buys New Position in Apollo Global Management Inc. $APO

Leo Wealth LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,451 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd raised its stake in Apollo Global Management by 14.4% during the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 78 shares during the last quarter. Walled Lake Planning & Wealth Management LLC raised its stake in Apollo Global Management by 3.3% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 80 shares during the last quarter. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. CVA Family Office LLC raised its stake 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 valued at $73,000 after acquiring an additional 88 shares during the last quarter. Finally, World Investment Advisors raised its stake in Apollo Global Management by 1.3% during the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 93 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on APO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday. BMO Capital Markets began coverage on Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective for the company. Citigroup increased their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.57.

Apollo Global Management Stock Performance

APO opened at $118.34 on Friday. The stock has a market cap of $67.69 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.34 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $136.21 and its 200 day simple moving average is $136.28. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter in the prior year, the firm posted $1.64 EPS. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio is currently 38.13%.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 in the last quarter. Company insiders own 8.20% of the company’s stock.

About Apollo Global Management

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.