Anchor Capital Advisors LLC Acquires New Shares in Apollo Global Management, Inc. (NYSE:APO)

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

Several other large investors also recently bought and sold shares of APO. DSM Capital Partners LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $31,000. True Wealth Design LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Apollo Global Management in the second quarter valued at approximately $35,000. Carolinas Wealth Consulting LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth approximately $38,000. Finally, J.Safra Asset Management Corp raised its position in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on APO. Redburn Atlantic started coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Barclays cut their target price on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus lowered their price target 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, TD Cowen raised their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.19.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $108.00 on Friday. The business has a 50-day moving average of $114.49 and a two-hundred day moving average of $113.42. The firm has a market capitalization of $61.36 billion, a PE ratio of 11.96, a P/E/G ratio of 1.19 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.45.

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

Apollo Global Management Cuts Dividend

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

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management 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.