Wellington Shields Capital Management LLC Buys 1,371 Shares of Apollo Global Management Inc. $APO

Wellington Shields Capital Management LLC lifted its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,921 shares of the financial services provider’s stock after buying an additional 1,371 shares during the quarter. Apollo Global Management comprises 1.6% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Wellington Shields Capital Management LLC’s holdings in Apollo Global Management were worth $9,210,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Y.D. More Investments Ltd raised its holdings in shares of 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 last quarter. Walled Lake Planning & Wealth Management LLC raised its holdings in shares of 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 last quarter. GW&K Investment Management LLC raised its holdings in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. World Investment Advisors raised its holdings in Apollo Global Management by 1.3% during the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 93 shares during the last quarter. Finally, Tower Wealth Partners Inc. raised its holdings in Apollo Global Management by 4.7% during the 2nd quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 94 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Up 0.8%

NYSE APO opened at $124.48 on Monday. The company has a market cap of $71.21 billion, a PE ratio of 23.27, a PEG ratio of 1.42 and a beta of 1.68. 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 Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a 50 day moving average of $131.50 and a 200-day moving average of $136.20.

Apollo Global Management (NYSE:APO) last posted its quarterly 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. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $1.64 EPS. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on APO shares. Citigroup dropped their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. Evercore ISI boosted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Barclays dropped their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.57.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on 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 owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 935,000 shares of company stock worth $125,543,790. Company insiders own 8.20% of the company’s stock.

Apollo Global Management 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.