Equitable Holdings Inc. Buys Shares of 12,342 Apollo Global Management Inc. $APO

Equitable Holdings Inc. purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 12,342 shares of the financial services provider’s stock, valued at approximately $1,460,000.

A number of other hedge funds have also made changes to their positions in the stock. Centaurus Financial Inc. bought a new stake in Apollo Global Management during the second quarter worth approximately $444,000. Formula Growth Ltd. bought a new position in Apollo Global Management during the 2nd quarter valued at $1,633,000. Coastal Bridge Advisors LLC acquired a new position in shares of Apollo Global Management during the 2nd quarter valued at $3,957,000. Public Employees Retirement System of Ohio bought a new stake in shares of Apollo Global Management in the 2nd quarter worth $19,165,000. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Apollo Global Management in the 2nd quarter worth $207,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Up 1.5%

Shares of Apollo Global Management stock opened at $135.39 on Friday. The stock’s fifty day moving average is $126.22 and its 200-day moving average is $122.87. The firm has a market capitalization of $79.95 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29.

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

Apollo Global Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APO. HSBC initiated coverage on Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 target price for the company. Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Barclays lifted their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Insider Buying and Selling

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 value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.30% of the company’s stock.

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.