PGGM Investments Acquires 1,124 Shares of Apollo Global Management, Inc. (NYSE:APO)

PGGM Investments increased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 15.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,593 shares of the financial services provider’s stock after acquiring an additional 1,124 shares during the period. PGGM Investments’ holdings in Apollo Global Management were worth $1,015,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in Apollo Global Management during the second quarter valued at approximately $146,000. Great Valley Advisor Group Inc. boosted its holdings in shares of Apollo Global Management by 8.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,716 shares of the financial services provider’s stock worth $321,000 after buying an additional 209 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Apollo Global Management by 343.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,492 shares of the financial services provider’s stock valued at $4,309,000 after buying an additional 28,272 shares during the last quarter. Ameliora Wealth Management Ltd. raised its holdings in Apollo Global Management by 445.8% in the 2nd quarter. Ameliora Wealth Management Ltd. now owns 21,980 shares of the financial services provider’s stock worth $2,595,000 after acquiring an additional 17,953 shares during the period. Finally, Wedmont Private Capital lifted its position in Apollo Global Management by 9.3% during the 2nd quarter. Wedmont Private Capital now owns 5,124 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 438 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on APO. Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Evercore ISI upped their price target on Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and cut their target price for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Finally, TD Cowen increased their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $125.00.

Insiders Place Their Bets

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO traded up $1.34 during trading on Wednesday, reaching $105.95. 1,674,542 shares of the company traded hands, compared to its average volume of 2,532,232. The stock’s 50 day moving average price is $116.40 and its two-hundred day moving average price is $112.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $60.20 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.95 and a beta of 1.59. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.45.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. During the same period in the previous year, the business posted $1.54 earnings per share. As a group, analysts anticipate that Apollo Global Management, Inc. will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, August 16th. Apollo Global Management’s dividend payout ratio is currently 20.49%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.