Menard Financial Group LLC Raises Stake in Apollo Global Management, Inc. (NYSE:APO)

Menard Financial Group LLC raised its position in Apollo Global Management, Inc. (NYSE:APO) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,690 shares of the financial services provider’s stock after purchasing an additional 113 shares during the period. Menard Financial Group LLC’s holdings in Apollo Global Management were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC increased its holdings in Apollo Global Management by 112.3% in the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after buying an additional 552,893 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Apollo Global Management by 287.5% in the 4th quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock valued at $28,683,000 after purchasing an additional 228,367 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Apollo Global Management by 5.6% in the 4th quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock valued at $88,599,000 after purchasing an additional 50,008 shares during the period. CenterBook Partners LP grew its stake in Apollo Global Management by 59.9% during the 4th quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock worth $1,933,000 after buying an additional 7,769 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Apollo Global Management by 49.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock worth $4,900,000 after buying an additional 17,361 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several research analyst reports. TD Cowen increased their price objective on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, July 8th. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Evercore ISI upped their target price on shares of Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Finally, Barclays dropped their price target on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Apollo Global Management Stock Performance

Shares of APO opened at $114.39 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.45. The company has a 50-day simple moving average of $113.54 and a 200-day simple moving average of $113.40. The company has a market capitalization of $65.15 billion, a PE ratio of 12.67, a P/E/G ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period last year, the business posted $1.54 earnings per share. Equities research analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.62%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

About Apollo Global Management

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.