Main Street Financial Solutions LLC Invests $522,000 in Apollo Global Management Inc. $APO

Main Street Financial Solutions LLC purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the second quarter, Holdings Channel reports. The fund purchased 4,411 shares of the financial services provider’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management during the 4th quarter worth approximately $29,000. MBM Wealth Consultants LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Osbon Capital Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Down 0.5%

Apollo Global Management stock opened at $133.91 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The company has a 50-day simple moving average of $126.70 and a 200-day simple moving average of $122.72. The firm has a market capitalization of $79.08 billion, a P/E ratio of 49.05, a P/E/G ratio of 1.26 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 8.12 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s payout ratio is 82.42%.

Analysts Set New Price Targets

Several research firms have weighed in on APO. HSBC started coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 target price for the company. Evercore restated an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada boosted their price objective on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.77.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.