NewEdge Advisors LLC Buys 23,400 Shares of Apollo Global Management Inc. $APO

NewEdge Advisors LLC boosted its stake in Apollo Global Management Inc. (NYSE:APO) by 130.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,404 shares of the financial services provider’s stock after purchasing an additional 23,400 shares during the quarter. NewEdge Advisors LLC’s holdings in Apollo Global Management were worth $4,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APO. Allworth Financial LP increased its stake in Apollo Global Management by 14.7% in the second quarter. Allworth Financial LP now owns 2,222 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 284 shares in the last quarter. Nykredit A S bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $14,515,000. Parkside Financial Bank & Trust increased its position in shares of Apollo Global Management by 157.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,897 shares of the financial services provider’s stock valued at $224,000 after buying an additional 1,161 shares in the last quarter. HighTower Advisors LLC raised its stake in Apollo Global Management by 0.7% during the 2nd quarter. HighTower Advisors LLC now owns 118,985 shares of the financial services provider’s stock worth $14,077,000 after buying an additional 792 shares during the period. Finally, Groupe la Francaise lifted its holdings in Apollo Global Management by 0.8% during the second quarter. Groupe la Francaise now owns 42,864 shares of the financial services provider’s stock worth $5,071,000 after acquiring an additional 328 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APO shares. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada lifted their price target on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Barclays increased their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. UBS Group raised their price objective on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.15.

Apollo Global Management Stock Down 0.5%

APO stock opened at $128.31 on Tuesday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The business has a 50-day simple moving average of $128.44 and a 200 day simple moving average of $123.49. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $75.77 billion, a PE ratio of 47.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period in the prior year, the business earned $1.92 earnings per share. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 1.8%. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.30% of the stock is owned by insiders.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and retirement services. The company serves institutional investors, businesses and individual investors through a range of strategies focused on private equity, credit, real assets and other long-term investments.

Apollo’s asset-management business invests across industries and geographies, with activities that include corporate and structured credit, private equity, infrastructure, real estate and hybrid strategies.