Jupiter Asset Management Ltd. Buys New Stake in Apollo Global Management, Inc. (NYSE:APO)

Jupiter Asset Management Ltd. purchased a new position in Apollo Global Management, Inc. (NYSE:APO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 102,305 shares of the financial services provider’s stock, valued at approximately $12,079,000.

A number of other large investors have also made changes to their positions in APO. Vanguard Group Inc. boosted its position in shares of Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares in the last quarter. Capital International Investors raised its stake in Apollo Global Management by 2.1% in the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after buying an additional 218,566 shares during the last quarter. Norges Bank acquired a new stake in Apollo Global Management in the fourth quarter worth about $586,016,000. Putnam Investments LLC raised its position in shares of Apollo Global Management by 2.8% in the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock valued at $553,476,000 after purchasing an additional 164,400 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the topic of several research analyst reports. UBS Group boosted their price target on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. TD Cowen increased their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Barclays cut their price objective on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $112.36 on Friday. The company has a market capitalization of $63.84 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $126.45. The company’s 50 day simple moving average is $113.62 and its 200-day simple moving average is $113.35.

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

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

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.