Spire Wealth Management Raises Holdings in Apollo Global Management Inc. $APO

Spire Wealth Management grew its position in shares of Apollo Global Management Inc. (NYSE:APO) by 137.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,978 shares of the financial services provider’s stock after buying an additional 1,726 shares during the period. Spire Wealth Management’s holdings in Apollo Global Management were worth $422,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Apollo Global Management by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock valued at $75,347,000 after purchasing an additional 7,441 shares during the last quarter. True North Advisors LLC bought a new position in shares of Apollo Global Management during the 1st quarter valued at about $2,097,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Apollo Global Management by 25.3% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 11,749 shares of the financial services provider’s stock valued at $1,609,000 after purchasing an additional 2,375 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after purchasing an additional 706,181 shares during the last quarter. Finally, Davidson Investment Advisors bought a new position in shares of Apollo Global Management during the 1st quarter valued at about $443,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on APO shares. Evercore ISI increased their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Barclays reduced their price target on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, Citigroup reduced their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.57.

Apollo Global Management Price Performance

Shares of APO stock opened at $124.48 on Monday. The firm has a market cap of $71.21 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.42 and a beta of 1.68. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The business’s 50 day moving average price is $131.50 and its 200-day moving average price is $136.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data 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 firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period last year, the company earned $1.64 EPS. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by insiders.

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.