Wellington Shields Capital Management LLC Buys 1,371 Shares of Apollo Global Management Inc. $APO

Wellington Shields Capital Management LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,921 shares of the financial services provider’s stock after buying an additional 1,371 shares during the period. Apollo Global Management makes up approximately 1.6% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Wellington Shields Capital Management LLC’s holdings in Apollo Global Management were worth $9,210,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APO. Boston Partners bought a new position in shares of Apollo Global Management in the first quarter worth $370,543,000. Nuveen LLC bought a new position in shares of Apollo Global Management in the first quarter worth $342,335,000. Vanguard Group Inc. increased its position in shares of 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 worth $6,303,186,000 after purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 worth $490,482,000 after purchasing an additional 706,181 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Apollo Global Management by 33.0% in the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock worth $338,737,000 after purchasing an additional 613,124 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.8%

Shares of APO stock opened at $124.48 on Monday. The company has a 50 day moving average of $131.50 and a 200-day moving average of $136.20. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The firm has a market cap of $71.21 billion, a P/E ratio of 23.27, a PEG ratio of 1.42 and a beta of 1.68. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

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

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.51 per share. 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 payout ratio is 38.13%.

Analyst Ratings Changes

A number of research analysts recently commented on APO shares. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Citigroup decreased their target price 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. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. BMO Capital Markets started coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. Finally, Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $162.57.

Insider Activity

In related news, insider Whitney Chatterjee sold 4,500 shares of the business’s 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 completion of the sale, the insider owned 83,192 shares in the company, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders 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.