CNA Financial Corp continued to hold its stake in Apollo Global Management, LLC (NYSE:APO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,700 shares of the financial services provider’s stock at the close of the second quarter. CNA Financial Corp’s holdings in Apollo Global Management were worth $786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Penserra Capital Management LLC lifted its position in shares of Apollo Global Management by 98.2% in the 1st quarter. Penserra Capital Management LLC now owns 5,890 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 2,918 shares during the period. Global X Management Co. LLC acquired a new position in shares of Apollo Global Management in the 1st quarter worth approximately $161,000. NEXT Financial Group Inc lifted its position in shares of Apollo Global Management by 106.5% in the 2nd quarter. NEXT Financial Group Inc now owns 6,400 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 3,300 shares during the period. Cowen Prime Services LLC lifted its position in shares of Apollo Global Management by 400.0% in the 2nd quarter. Cowen Prime Services LLC now owns 7,500 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 6,000 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Apollo Global Management in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Shares of Apollo Global Management, LLC (NYSE APO) traded down 0.62% during mid-day trading on Wednesday, reaching $28.78. 9,390 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $29.00 and a 200 day moving average of $26.62. The firm has a market capitalization of $5.58 billion, a P/E ratio of 11.27 and a beta of 1.22. Apollo Global Management, LLC has a one year low of $17.38 and a one year high of $30.75.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The business had revenue of $432.87 million during the quarter, compared to analysts’ expectations of $455.29 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The business’s revenue was down 34.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, analysts forecast that Apollo Global Management, LLC will post $2.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a $0.52 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, August 18th. This represents a $2.08 dividend on an annualized basis and a yield of 7.18%. Apollo Global Management’s dividend payout ratio is 81.25%.

In other news, major shareholder Tiger Global Management Llc acquired 100,916 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was acquired at an average price of $27.36 per share, for a total transaction of $2,761,061.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director A B. Krongard acquired 1,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was purchased at an average price of $29.28 per share, with a total value of $29,280.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,399,918 shares of company stock valued at $39,210,819. 4.11% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: This piece was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/09/13/cna-financial-corp-continues-to-hold-stake-in-apollo-global-management-llc-apo.html.

A number of brokerages have recently issued reports on APO. Morgan Stanley boosted their price target on shares of Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. JMP Securities restated an “outperform” rating and issued a $32.00 price target on shares of Apollo Global Management in a research report on Friday, August 4th. UBS AG restated a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Deutsche Bank AG boosted their price target on shares of Apollo Global Management from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Apollo Global Management has a consensus rating of “Buy” and an average target price of $28.90.

Apollo Global Management Company Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

Receive News & Stock Ratings for Apollo Global Management LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management LLC and related stocks with our FREE daily email newsletter.