Tocqueville Asset Management L.P. Makes New Investment in Apollo Global Management Inc. $APO

Tocqueville Asset Management L.P. bought a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 259,516 shares of the financial services provider’s stock, valued at approximately $30,703,000.

A number of other institutional investors have also modified their holdings of APO. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management in the 4th quarter valued at $29,000. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management during the 1st quarter worth $29,000. Steigerwald Gordon & Koch Inc. raised its position in Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after buying an additional 213 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth about $36,000. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research report on Monday, July 13th. UBS Group raised their price target on Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. TD Cowen restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. HSBC started coverage on Apollo Global Management in a report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective on the stock. Finally, Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Stock Performance

NYSE APO opened at $133.59 on Thursday. The business has a 50 day moving average price of $126.74 and a 200 day moving average price of $122.71. The company has a market capitalization of $78.89 billion, a P/E ratio of 48.94, a PEG ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company posted $1.92 EPS. Sell-side analysts expect that Apollo Global Management Inc. will post 8.12 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis 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%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Company 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.