OFI Invest Asset Management Takes Position in Apollo Global Management, Inc. (NYSE:APO)

OFI Invest Asset Management acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,551 shares of the financial services provider’s stock, valued at approximately $501,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at about $586,016,000. Curated Wealth Partners LLC grew its stake in Apollo Global Management by 200.3% during the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after buying an additional 4,717,661 shares during the period. TD Asset Management Inc boosted its holdings in Apollo Global Management by 4,248.9% in the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after acquiring an additional 2,402,686 shares during the period. Capital Research Global Investors boosted its stake in shares of Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the last quarter. Finally, Third Point LLC bought a new position in shares of Apollo Global Management during the fourth quarter worth about $83,871,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Shares of APO traded up $0.63 during trading hours on Friday, reaching $111.00. The stock had a trading volume of 1,950,123 shares, compared to its average volume of 2,536,742. The stock has a market capitalization of $63.07 billion, a PE ratio of 12.29, a PEG ratio of 0.95 and a beta of 1.59. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The company’s 50-day moving average is $116.33 and its two-hundred day moving average is $113.03.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period in the prior year, the company earned $1.54 EPS. Research analysts expect that Apollo Global Management, Inc. will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

Analysts Set New Price Targets

A number of brokerages have issued reports on APO. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and cut their target price for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. UBS Group upped their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. TD Cowen increased their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, July 8th. JPMorgan Chase & Co. increased their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Finally, Evercore ISI raised their price objective on shares of Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.62.

About Apollo Global Management

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.