J.Safra Asset Management Corp Buys 570 Shares of Apollo Global Management Inc. $APO

J.Safra Asset Management Corp increased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 15.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,197 shares of the financial services provider’s stock after purchasing an additional 570 shares during the quarter. J.Safra Asset Management Corp’s holdings in Apollo Global Management were worth $600,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Y.D. More Investments Ltd lifted its holdings in Apollo Global Management by 14.4% in the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock valued at $85,000 after buying an additional 78 shares during the period. Walled Lake Planning & Wealth Management LLC lifted its holdings in Apollo Global Management by 3.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock valued at $345,000 after buying an additional 80 shares during the period. GW&K Investment Management LLC lifted its holdings in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. CVA Family Office LLC lifted its holdings in Apollo Global Management by 19.7% in the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider’s stock valued at $73,000 after buying an additional 88 shares during the period. Finally, World Investment Advisors lifted its holdings in Apollo Global Management by 1.3% in the first quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock valued at $971,000 after buying an additional 93 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 3.7%

Apollo Global Management stock opened at $122.54 on Tuesday. The company has a market cap of $70.09 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The company has a fifty day simple moving average of $135.82 and a 200 day simple moving average of $136.08. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter last year, the firm earned $1.64 earnings per share. Research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on APO shares. Barclays cut their target price on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Evercore ISI increased their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. BMO Capital Markets began coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 target price on the stock. Finally, Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.14.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 in the last quarter. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.