Traders Buy Large Volume of Put Options on Apollo Global Management (NYSE:APO)

Apollo Global Management Inc. (NYSE:APO) saw unusually large options trading on Friday. Investors bought 22,175 put options on the stock. This represents an increase of approximately 186% compared to the average volume of 7,746 put options.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Apollo Global Management in the second quarter valued at approximately $459,987,000. Bank of New York Mellon Corp bought a new stake in shares of Apollo Global Management during the second quarter worth $336,644,000. Boston Partners raised its holdings in shares of Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the period. Temasek Holdings Private Ltd raised its holdings in shares of Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after acquiring an additional 1,614,813 shares during the period. Finally, Deutsche Bank AG bought a new stake in Apollo Global Management in the 2nd quarter valued at $172,290,000. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

APO has been the topic of a number of research reports. Royal Bank Of Canada upped their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. HSBC began coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective for the company. Morgan Stanley decreased their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their target price on Apollo Global Management from $150.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Finally, Piper Sandler lowered their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.36.

Apollo Global Management Trading Up 0.1%

APO traded up $0.10 during midday trading on Friday, reaching $114.44. 871,098 shares of the company were exchanged, compared to its average volume of 4,269,754. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. Apollo Global Management has a one year low of $99.56 and a one year high of $153.29. The stock has a market capitalization of $67.58 billion, a P/E ratio of 41.94, a PEG ratio of 1.02 and a beta of 1.58. The stock’s 50-day simple moving average is $129.13 and its 200 day simple moving average is $124.80.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period last year, the company earned $1.92 earnings per share. As a group, analysts forecast that Apollo Global Management will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.