Resona Asset Management Co. Ltd. Grows Stake in Apollo Global Management Inc. $APO

Resona Asset Management Co. Ltd. lifted its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,942 shares of the financial services provider’s stock after acquiring an additional 5,152 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Apollo Global Management were worth $18,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APO. GW&K Investment Management LLC grew its position in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the last quarter. Activest Wealth Management boosted its stake in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Apollo Global Management by 6,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Bay Harbor Wealth Management LLC increased its position in shares of Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 260 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at about $42,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The SEC filing for this sale provides additional information. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $129.13 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $131.03 and a 200 day moving average price of $136.14. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company has a market cap of $73.87 billion, a P/E ratio of 24.14, a PEG ratio of 1.42 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.64 EPS. Research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their target price on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup reduced their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Evercore ISI lifted their target price on Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley dropped their target price on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Apollo Global Management Company Profile

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.