HCR Wealth Advisors Increases Holdings in Apollo Global Management, Inc. (NYSE:APO)

HCR Wealth Advisors boosted its position in Apollo Global Management, Inc. (NYSE:APO) by 15.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,237 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. HCR Wealth Advisors’ holdings in Apollo Global Management were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Norges Bank bought a new position in shares of Apollo Global Management during the 4th quarter valued at $586,016,000. Curated Wealth Partners LLC grew its stake in shares of Apollo Global Management by 200.3% during the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after buying an additional 4,717,661 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Apollo Global Management by 4,248.9% in the fourth quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after buying an additional 2,402,686 shares during the period. Capital Research Global Investors lifted its stake 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 acquiring an additional 1,360,525 shares during the last quarter. Finally, Third Point LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at about $83,871,000. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

APO has been the subject of several recent research reports. Argus lowered their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Evercore ISI increased their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Barclays decreased their price objective on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. UBS Group increased their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.19.

Apollo Global Management Price Performance

APO opened at $107.58 on Tuesday. The company’s 50-day simple moving average is $114.26 and its two-hundred day simple moving average is $113.42. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.45. The stock has a market capitalization of $61.27 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26.

Apollo Global Management (NYSE:APO) last issued its earnings results 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). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted $1.54 EPS. As a group, analysts predict 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 issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

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.