The Manufacturers Life Insurance Company Takes $30.74 Million Position in Apollo Global Management Inc. $APO

The Manufacturers Life Insurance Company purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the second quarter, Holdings Channel.com reports. The fund purchased 259,862 shares of the financial services provider’s stock, valued at approximately $30,744,000.

Several other large investors have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its position in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 82 shares during the period. Glen Eagle Advisors LLC raised its holdings in 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 worth $56,000 after purchasing an additional 96 shares in the last quarter. Kestra Investment Management LLC lifted its position in shares of Apollo Global Management by 2.1% in the 4th quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 99 shares during the period. Ramirez Asset Management Inc. lifted its position in shares of Apollo Global Management by 25.0% in the 4th quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 100 shares during the period. Finally, Prudential PLC boosted its stake in shares of Apollo Global Management by 1.6% during the 4th quarter. Prudential PLC now owns 6,502 shares of the financial services provider’s stock valued at $941,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value 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. The trade was a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Down 0.2%

Shares of Apollo Global Management stock opened at $133.41 on Friday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm has a market cap of $78.78 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 1.21 and a beta of 1.51. The company has a 50-day moving average of $126.27 and a 200 day moving average of $122.78. 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 posted its quarterly earnings data 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 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 the consensus estimate of $5.65 billion. During the same period in the previous year, the firm earned $1.92 EPS. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.5625 per share. 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 (DPR) is presently 82.42%.

Analyst Upgrades and Downgrades

APO has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Barclays lifted their price objective on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Finally, HSBC started coverage on Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management 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.