Waterfront Wealth Inc. Has $1.05 Million Stock Holdings in Apollo Global Management Inc. $APO

Waterfront Wealth Inc. boosted its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,428 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. Waterfront Wealth Inc.’s holdings in Apollo Global Management were worth $1,054,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y.D. More Investments Ltd raised its holdings in shares of 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 worth $85,000 after buying an additional 78 shares in the last quarter. Walled Lake Planning & Wealth Management LLC lifted its stake in shares of Apollo Global Management by 3.3% in 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 purchasing an additional 80 shares during the period. 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 worth $26,000 after buying an additional 87 shares during the period. 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 worth $971,000 after buying an additional 93 shares during the period. Finally, Tower Wealth Partners Inc. raised its stake in shares of Apollo Global Management by 4.7% in the second quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 94 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction dated 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 sale, the insider owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 over the last 90 days. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on APO. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Evercore ISI raised their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Morgan Stanley cut their target price on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Barclays cut their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Finally, BMO Capital Markets started coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.57.

Apollo Global Management Stock Down 1.4%

Shares of NYSE APO opened at $124.59 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The stock has a market capitalization of $71.27 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 1.44 and a beta of 1.68. The firm’s 50-day moving average price is $132.11 and its 200-day moving average price is $136.17.

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

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

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.