InTrack Investment Management Inc Grows Position in Apollo Global Management Inc. $APO

InTrack Investment Management Inc raised its holdings in Apollo Global Management Inc. (NYSE:APO) by 15.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,136 shares of the financial services provider’s stock after acquiring an additional 1,772 shares during the period. Apollo Global Management makes up 1.3% of InTrack Investment Management Inc’s investment portfolio, making the stock its 28th largest position. InTrack Investment Management Inc’s holdings in Apollo Global Management were worth $1,864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of APO. Boston Partners purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at about $370,543,000. Nuveen LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at about $342,335,000. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after acquiring an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after acquiring an additional 706,181 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Apollo Global Management by 33.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock valued at $338,737,000 after acquiring an additional 613,124 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 1.0%

Shares of Apollo Global Management stock opened at $124.74 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The stock has a market capitalization of $71.35 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.36 and a beta of 1.68. The company’s 50 day moving average price is $137.05 and its 200-day moving average price is $136.65.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period last year, the company earned $1.64 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on APO shares. Citigroup raised their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 10th. BMO Capital Markets assumed coverage on Apollo Global Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $132.00 target price for the company. Barclays cut their target price on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday. Evercore ISI lifted their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.57.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.