KBC Group NV Has $34.36 Million Holdings in Apollo Global Management Inc. $APO

KBC Group NV decreased its holdings in Apollo Global Management Inc. (NYSE:APO) by 24.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,165 shares of the financial services provider’s stock after selling 79,226 shares during the quarter. KBC Group NV’s holdings in Apollo Global Management were worth $34,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Quarterback LLC acquired a new position in Apollo Global Management during the 2nd quarter worth approximately $544,000. Turn8 Private Wealth Inc. raised its holdings in shares of Apollo Global Management by 3.7% in the 2nd quarter. Turn8 Private Wealth Inc. now owns 23,867 shares of the financial services provider’s stock worth $3,437,000 after acquiring an additional 861 shares during the last quarter. Factory Mutual Insurance Co. raised its holdings in shares of Apollo Global Management by 26.0% in the 2nd quarter. Factory Mutual Insurance Co. now owns 199,400 shares of the financial services provider’s stock worth $28,289,000 after acquiring an additional 41,200 shares during the last quarter. Samalin Investment Counsel LLC lifted its position in Apollo Global Management by 72.6% in the 2nd quarter. Samalin Investment Counsel LLC now owns 11,947 shares of the financial services provider’s stock valued at $1,695,000 after acquiring an additional 5,025 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in Apollo Global Management during the 2nd quarter valued at about $702,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on APO shares. Citigroup dropped their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Morgan Stanley dropped their price objective on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Evercore ISI upped their target price on shares of Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Barclays upped their price objective on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Apollo Global Management Trading Up 0.6%

NYSE:APO opened at $133.66 on Thursday. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 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 firm’s 50 day moving average is $130.80 and its 200 day moving average is $136.34. The stock has a market capitalization of $76.46 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.24. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $4.92 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business’s revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. Sell-side analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s payout ratio is currently 29.82%.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction 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 transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.20% of the company’s stock.

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.