Evolve Private Wealth LLC Takes Position in Apollo Global Management Inc. $APO

Evolve Private Wealth LLC acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 4,189 shares of the financial services provider’s stock, valued at approximately $496,000.

Several other large investors have also recently bought and sold shares of APO. Sunbelt Securities Inc. boosted its position in shares of Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 82 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares in the last quarter. Glen Eagle Advisors LLC increased its holdings in shares of Apollo Global Management by 33.3% in the 4th quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 96 shares in the last quarter. Kestra Investment Management LLC grew its position in Apollo Global Management by 2.1% during the fourth quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider’s stock worth $684,000 after buying an additional 99 shares during the period. Finally, Ramirez Asset Management Inc. grew its position in Apollo Global Management by 25.0% during the fourth quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider’s stock worth $72,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 0.4%

Shares of NYSE APO opened at $133.27 on Wednesday. The firm’s 50-day moving average is $126.46 and its two-hundred day moving average is $122.72. The company has a market capitalization of $78.70 billion, a PE ratio of 48.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the business earned $1.92 earnings per share. Equities analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be given a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is currently 82.42%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Weiss Ratings upgraded Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Morgan Stanley dropped their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. HSBC began coverage on Apollo Global Management in a report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.