Equitable Holdings Inc. Buys Shares of 12,342 Apollo Global Management Inc. $APO

Equitable Holdings Inc. bought a new stake in Apollo Global Management Inc. (NYSE:APO) in the second quarter, Holdings Channel.com reports. The institutional investor bought 12,342 shares of the financial services provider’s stock, valued at approximately $1,460,000.

A number of other hedge funds also recently modified their holdings of APO. Legal & General Group Plc purchased a new position in shares of Apollo Global Management during the second quarter valued at $459,987,000. Bank of New York Mellon Corp purchased a new stake in Apollo Global Management in the 2nd quarter worth about $336,644,000. Boston Partners lifted its stake in Apollo Global Management by 106.7% in the 4th 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 in the last quarter. Temasek Holdings Private Ltd boosted its position in Apollo Global Management by 214.4% during the 1st 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 acquired a new stake in Apollo Global Management during the 2nd quarter worth about $172,290,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $135.39 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $79.95 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a 50 day moving average price of $126.22 and a two-hundred day moving average price of $122.87.

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 the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion for 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 quarter last year, the company earned $1.92 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm 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 dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on APO shares. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a report on Monday, July 20th. HSBC initiated coverage on shares of Apollo Global Management in a report on Monday, July 20th. They set a “buy” rating and a $145.00 price target for the company. Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. BMO Capital Markets dropped their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Finally, Royal Bank Of Canada increased 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $152.77.

Insider Buying and Selling

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

About Apollo Global Management

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.