Kerusso Capital Management LLC Takes $4.42 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Kerusso Capital Management LLC purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,411 shares of the financial services provider’s stock, valued at approximately $4,417,000. Apollo Global Management accounts for approximately 3.2% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 2nd largest position.

A number of other institutional investors have also recently added to or reduced their stakes in APO. Norges Bank acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $586,016,000. Curated Wealth Partners LLC boosted its stake in shares of Apollo Global Management by 200.3% in the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares during the period. TD Asset Management Inc grew its holdings in Apollo Global Management by 4,248.9% during the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after purchasing an additional 2,402,686 shares in the last quarter. Capital Research Global Investors increased its stake in Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after buying an additional 1,360,525 shares during the period. Finally, Third Point LLC purchased a new stake in Apollo Global Management during the 4th quarter worth $83,871,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on APO shares. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Evercore ISI raised their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their target price for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Finally, TD Cowen raised their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.19.

Apollo Global Management Stock Performance

Shares of APO stock opened at $108.00 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $114.49 and a two-hundred day moving average of $113.42. The company has a market cap of $61.36 billion, a P/E ratio of 11.96, a PEG ratio of 1.19 and a beta of 1.61. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.45.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same quarter in the previous year, the company earned $1.54 earnings per share. As a group, analysts anticipate that Apollo Global Management, Inc. will post 6.68 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.4625 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.71%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by company insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in 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.