Kingsview Wealth Management LLC Makes New $5.01 Million Investment in Apollo Global Management Inc. $APO

Kingsview Wealth Management LLC bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 42,344 shares of the financial services provider’s stock, valued at approximately $5,010,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management during the fourth quarter worth about $29,000. MBM Wealth Consultants LLC acquired a new position in Apollo Global Management in the first quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Apollo Global Management during the second quarter valued at approximately $31,000. Finally, Osbon Capital Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $36,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Up 1.5%

APO stock opened at $135.39 on Friday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The company has a market capitalization of $79.95 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The firm’s 50-day moving average is $126.22 and its two-hundred day moving average is $122.87. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share 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 analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period in the prior year, the company posted $1.92 earnings per share. On average, analysts forecast that Apollo Global Management Inc. 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 will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is 82.42%.

Analyst Ratings Changes

Several brokerages recently issued reports on APO. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. Morgan Stanley lowered their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. Royal Bank Of Canada raised their target price on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Finally, UBS Group boosted their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction 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 approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is owned by company insiders.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.