Apollo Global Management, Inc. (NYSE:APO) is CNA Financial Corp’s 3rd Largest Position

CNA Financial Corp boosted its position in Apollo Global Management, Inc. (NYSE:APO) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,000 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the quarter. Apollo Global Management accounts for about 11.2% of CNA Financial Corp’s holdings, making the stock its 3rd biggest holding. CNA Financial Corp’s holdings in Apollo Global Management were worth $20,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DSM Capital Partners LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $31,000. True Wealth Design LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth about $33,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Apollo Global Management in the 4th quarter valued at about $36,000. Carolinas Wealth Consulting LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $38,000. Finally, J.Safra Asset Management Corp boosted its holdings in Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 305 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. UBS Group raised their price objective on 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 upped their target price on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Jefferies Financial Group cut their price target on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Finally, Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $128.19.

Insider Transactions at Apollo Global Management

In related news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO traded up $2.47 during trading hours on Friday, hitting $115.73. 2,645,020 shares of the stock were exchanged, compared to its average volume of 2,499,479. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The company has a market cap of $65.75 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth 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 stock has a 50-day moving average of $115.24 and a 200 day moving average of $113.45.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same period last year, the company posted $1.54 earnings per share. As a group, equities research analysts forecast that Apollo Global Management, Inc. will post 7.09 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.60%. Apollo Global Management’s payout ratio is currently 20.49%.

Apollo Global Management Company Profile

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.