Synergy Asset Management LLC Makes New Investment in Apollo Global Management Inc. $APO

Synergy Asset Management LLC acquired a new position in shares of Apollo Global Management Inc. (NYSE:APOFree Report) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 6,539 shares of the financial services provider’s stock, valued at approximately $928,000.

Several other institutional investors also recently bought and sold shares of APO. Vanguard Group Inc. boosted its position in Apollo Global Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after acquiring an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after acquiring an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Apollo Global Management by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock valued at $412,641,000 after acquiring an additional 112,736 shares in the last quarter. Boston Partners bought a new stake in Apollo Global Management during the 1st quarter valued at $370,543,000. Finally, Allen Investment Management LLC boosted its position in Apollo Global Management by 14.4% during the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after acquiring an additional 333,428 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is owned by company insiders.

Apollo Global Management Stock Down 2.2%

Apollo Global Management stock opened at $127.09 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $72.70 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.40 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 business has a fifty day moving average price of $138.85 and a 200-day moving average price of $137.11.

Apollo Global Management (NYSE:APOGet Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s payout ratio is currently 38.13%.

Analyst Ratings Changes

Several brokerages have issued reports on APO. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Citigroup increased their target price on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Barclays increased their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Wells Fargo & Company raised their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Finally, Evercore ISI raised their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.93.

Read Our Latest Stock Report on APO

About Apollo Global Management

(Free Report)

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.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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