Nations Financial Group Inc. IA ADV Invests $363,000 in Apollo Global Management, Inc. (NYSE:APO)

Nations Financial Group Inc. IA ADV acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,073 shares of the financial services provider’s stock, valued at approximately $363,000.

A number of other large investors have also bought and sold shares of the company. DSM Capital Partners LLC bought a new stake in Apollo Global Management in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp lifted its stake in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after buying an additional 305 shares in the last quarter. True Wealth Design LLC bought a new position in Apollo Global Management in the 4th quarter worth approximately $33,000. Vestmark Advisory Solutions Inc. purchased a new position in Apollo Global Management in the 4th quarter valued at approximately $36,000. Finally, Riverview Trust Co purchased a new position in Apollo Global Management in the 1st quarter valued at approximately $45,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded up $2.47 during trading hours on Friday, reaching $115.73. 2,645,020 shares of the stock traded hands, compared to its average volume of 2,499,479. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $126.45. The firm has a market capitalization of $65.75 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.95 and a beta of 1.59. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $115.28 and a 200 day moving average price of $113.41.

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

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 1.60%. The ex-dividend date is Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. TD Cowen raised their price target on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barclays lowered their target price on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. UBS Group lifted their price objective on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.19.

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.