Select Equity Group L.P. Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Select Equity Group L.P. raised its position in Apollo Global Management, Inc. (NYSE:APO) by 4.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 973,941 shares of the financial services provider’s stock after purchasing an additional 38,955 shares during the period. Select Equity Group L.P. owned 0.42% of Apollo Global Management worth $45,785,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Apollo Global Management during the 4th quarter worth $78,344,000. Rubric Capital Management LP raised its holdings in shares of Apollo Global Management by 618.3% during the 1st quarter. Rubric Capital Management LP now owns 1,140,274 shares of the financial services provider’s stock worth $53,604,000 after acquiring an additional 1,360,274 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Apollo Global Management during the 1st quarter worth $52,766,000. BlackRock Inc. raised its holdings in shares of Apollo Global Management by 11.5% during the 1st quarter. BlackRock Inc. now owns 10,535,838 shares of the financial services provider’s stock worth $495,290,000 after acquiring an additional 1,085,847 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Apollo Global Management by 84.7% during the 1st quarter. Alliancebernstein L.P. now owns 2,164,231 shares of the financial services provider’s stock worth $101,740,000 after acquiring an additional 992,510 shares during the period. Institutional investors own 78.03% of the company’s stock.

A number of analysts recently issued reports on APO shares. Oppenheimer raised Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $59.00 price objective for the company in a research report on Tuesday, April 20th. Wells Fargo & Company raised their price objective on Apollo Global Management from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 5th. Citigroup raised their price objective on Apollo Global Management from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 12th. TheStreet raised Apollo Global Management from a “c+” rating to a “b” rating in a research report on Tuesday, May 4th. Finally, Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, July 13th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $62.64.

In other news, insider Joshua Harris sold 447,272 shares of the business’s stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $55.91, for a total transaction of $25,006,977.52. Following the completion of the transaction, the insider now directly owns 1,350,000 shares of the company’s stock, valued at $75,478,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director A B. Krongard bought 2,135 shares of the firm’s stock in a transaction that occurred on Monday, May 24th. The shares were acquired at an average price of $57.37 per share, with a total value of $122,484.95. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,755,925 shares of company stock valued at $102,829,396. Corporate insiders own 9.30% of the company’s stock.

NYSE APO opened at $58.08 on Thursday. The firm has a market cap of $13.49 billion, a P/E ratio of 7.69 and a beta of 1.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a 50-day moving average price of $58.80. Apollo Global Management, Inc. has a 1-year low of $36.35 and a 1-year high of $64.45.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Monday, May 3rd. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. Apollo Global Management had a return on equity of 17.46% and a net margin of 29.94%. The business had revenue of $512.94 million during the quarter, compared to the consensus estimate of $502.99 million. During the same period in the previous year, the company posted $0.52 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management, Inc. will post 3.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Thursday, May 20th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Wednesday, May 19th. Apollo Global Management’s dividend payout ratio is presently 99.01%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing investments in credit, private equity and real estate 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 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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