Zhang Financial LLC Has $2.16 Million Holdings in Apollo Global Management, Inc. (NYSE:APO)

Zhang Financial LLC raised its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,267 shares of the financial services provider’s stock after purchasing an additional 543 shares during the period. Zhang Financial LLC’s holdings in Apollo Global Management were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in APO. Los Angeles Capital Management LLC raised its position in shares of Apollo Global Management by 112.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after acquiring an additional 552,893 shares during the period. Principal Financial Group Inc. raised its position in shares of Apollo Global Management by 287.5% in the 4th quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock valued at $28,683,000 after acquiring an additional 228,367 shares during the period. Wells Fargo & Company MN raised its position in shares of Apollo Global Management by 5.6% in the 4th quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock valued at $88,599,000 after acquiring an additional 50,008 shares during the period. CenterBook Partners LP raised its position in shares of Apollo Global Management by 59.9% in the 4th quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock valued at $1,933,000 after acquiring an additional 7,769 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Apollo Global Management by 49.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock valued at $4,900,000 after acquiring an additional 17,361 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Apollo Global Management stock traded up $0.17 during mid-day trading on Monday, hitting $111.17. 755,932 shares of the company’s stock traded hands, compared to its average volume of 2,525,542. The firm has a 50 day simple moving average of $116.33 and a two-hundred day simple moving average of $113.11. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $126.45. The stock has a market cap of $63.16 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results 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 business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. During the same period in the prior year, the business earned $1.54 EPS. On average, research analysts expect that Apollo Global Management, Inc. will post 7.09 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, August 16th. Apollo Global Management’s dividend payout ratio is 20.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday. Jefferies Financial Group lowered their target price on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. JPMorgan Chase & Co. increased their target price 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, Barclays decreased their price target on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price 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.