Anchor Capital Advisors LLC Makes New $12.42 Million Investment in Apollo Global Management, Inc. (NYSE:APO)

Anchor Capital Advisors LLC acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 105,180 shares of the financial services provider’s stock, valued at approximately $12,419,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after purchasing an additional 750,781 shares in the last quarter. Capital International Investors lifted its stake in Apollo Global Management by 2.1% in the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after acquiring an additional 218,566 shares during the last quarter. Norges Bank acquired a new position in Apollo Global Management during the 4th quarter worth approximately $586,016,000. Putnam Investments LLC raised its holdings in shares of Apollo Global Management by 2.8% in the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock valued at $553,476,000 after purchasing an additional 164,400 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Apollo Global Management by 40.3% in the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after purchasing an additional 1,360,525 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Down 0.8 %

Shares of APO stock opened at $108.00 on Friday. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $126.45. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $114.49 and its two-hundred day moving average is $113.42. The company has a market capitalization of $61.36 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 1.19 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period in the prior year, the firm posted $1.54 earnings per share. Equities analysts forecast that Apollo Global Management, Inc. will post 6.68 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.71%. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on APO shares. TD Cowen raised their price target on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. Argus lowered their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Finally, UBS Group increased their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.19.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.