Axxcess Wealth Management LLC Raises Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Axxcess Wealth Management LLC lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APOGet Rating) by 124.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,691 shares of the financial services provider’s stock after purchasing an additional 5,367 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Apollo Global Management were worth $470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Apollo Global Management by 87.8% in the 1st quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock worth $2,316,818,000 after buying an additional 17,476,830 shares during the last quarter. Capital World Investors lifted its position in Apollo Global Management by 151.6% in the 1st quarter. Capital World Investors now owns 31,006,365 shares of the financial services provider’s stock worth $1,922,085,000 after buying an additional 18,681,592 shares during the last quarter. BlackRock Inc. lifted its position in Apollo Global Management by 32.6% in the 1st quarter. BlackRock Inc. now owns 24,262,978 shares of the financial services provider’s stock worth $1,504,064,000 after buying an additional 5,958,763 shares during the last quarter. Capital International Investors lifted its position in Apollo Global Management by 160.0% in the 1st quarter. Capital International Investors now owns 15,715,583 shares of the financial services provider’s stock worth $974,209,000 after buying an additional 9,671,334 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Apollo Global Management by 91.2% in the 1st quarter. Neuberger Berman Group LLC now owns 9,281,645 shares of the financial services provider’s stock worth $575,396,000 after buying an additional 4,426,790 shares during the last quarter. Hedge funds and other institutional investors own 69.40% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, Director Walter Joseph Clayton III purchased 5,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 30th. The shares were bought at an average cost of $56.07 per share, with a total value of $280,350.00. Following the completion of the purchase, the director now directly owns 29,737 shares in the company, valued at $1,667,353.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Walter Joseph Clayton III purchased 5,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 30th. The shares were bought at an average cost of $56.07 per share, with a total value of $280,350.00. Following the completion of the purchase, the director now directly owns 29,737 shares in the company, valued at $1,667,353.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $64.88, for a total value of $1,297,600.00. Following the completion of the sale, the chief financial officer now directly owns 431,486 shares in the company, valued at $27,994,811.68. The disclosure for this sale can be found here. 15.40% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $65.32 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.08. The company has a market cap of $37.38 billion, a PE ratio of -11.58 and a beta of 1.67. The business has a 50 day moving average of $54.94 and a 200 day moving average of $54.80. Apollo Global Management, Inc. has a 52 week low of $45.62 and a 52 week high of $75.39.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Thursday, November 17th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.45%. Apollo Global Management’s dividend payout ratio is presently -28.37%.

Analysts Set New Price Targets

A number of analysts recently weighed in on APO shares. Morgan Stanley boosted their target price on Apollo Global Management from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 3rd. Credit Suisse Group started coverage on Apollo Global Management in a research report on Tuesday, October 18th. They issued an “outperform” rating and a $59.50 price objective for the company. Oppenheimer boosted their price objective on Apollo Global Management from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Barclays boosted their price objective on Apollo Global Management from $65.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, November 3rd. Finally, TheStreet downgraded Apollo Global Management from a “c” rating to a “d+” rating in a research report on Wednesday, November 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $72.20.

Apollo Global Management Company Profile

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Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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