Assetmark Inc. Has $12.03 Million Position in Apollo Global Management Inc. $APO

Assetmark Inc. boosted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 11.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,823 shares of the financial services provider’s stock after purchasing an additional 8,691 shares during the quarter. Assetmark Inc.’s holdings in Apollo Global Management were worth $12,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its holdings in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Activest Wealth Management boosted its holdings in shares of Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after buying an additional 175 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the period. Bay Harbor Wealth Management LLC boosted its holdings in shares of Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after buying an additional 260 shares during the period. Finally, Rise Advisors LLC acquired a new position in shares of Apollo Global Management in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $124.48 on Friday. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The firm has a fifty day simple moving average of $131.50 and a 200 day simple moving average of $136.12. The stock has a market capitalization of $71.21 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.42 and a beta of 1.68. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. Research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio is 38.13%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the company’s 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 sale, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup reduced 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 report on Monday, October 13th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Barclays reduced their price target on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Wall Street Zen cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.57.

Apollo Global Management Profile

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.