Apollo Global Management Inc. $APO Shares Purchased by Carmel Capital Partners LLC

Carmel Capital Partners LLC increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 20.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,722 shares of the financial services provider’s stock after purchasing an additional 3,163 shares during the quarter. Apollo Global Management accounts for about 0.9% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 21st largest holding. Carmel Capital Partners LLC’s holdings in Apollo Global Management were worth $2,656,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after acquiring an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after acquiring an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Apollo Global Management by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock valued at $412,641,000 after acquiring an additional 112,736 shares in the last quarter. Boston Partners acquired a new stake in Apollo Global Management in the first quarter valued at approximately $370,543,000. Finally, Allen Investment Management LLC grew its position in Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after acquiring an additional 333,428 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on APO. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Barclays lowered their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. Finally, Citigroup decreased their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $161.14.

Apollo Global Management Stock Up 0.6%

APO stock opened at $121.55 on Friday. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $69.53 billion, a P/E ratio of 22.72, a PEG ratio of 1.38 and a beta of 1.68. The firm has a 50 day simple moving average of $134.27 and a 200-day simple moving average of $135.74.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter last year, the company earned $1.64 earnings per share. On average, equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s payout ratio is currently 38.13%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company’s stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 over the last 90 days. 8.20% of the stock is owned by company insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.