Manning & Napier Advisors LLC Makes New $2.95 Million Investment in Apollo Global Management, Inc. (NYSE:APO)

Manning & Napier Advisors LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the financial services provider’s stock, valued at approximately $2,952,000.

Several other institutional investors also recently modified their holdings of APO. Simplicity Wealth LLC raised its stake in shares of Apollo Global Management by 2.2% during the second quarter. Simplicity Wealth LLC now owns 18,973 shares of the financial services provider’s stock valued at $2,240,000 after acquiring an additional 414 shares during the last quarter. CWM LLC increased its position in Apollo Global Management by 6.9% in the second quarter. CWM LLC now owns 7,711 shares of the financial services provider’s stock worth $910,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. raised its position in shares of Apollo Global Management by 826.9% during the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after buying an additional 645 shares during the last quarter. Quent Capital LLC grew its stake in shares of Apollo Global Management by 1.8% in the 2nd quarter. Quent Capital LLC now owns 8,092 shares of the financial services provider’s stock worth $955,000 after buying an additional 146 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA raised its stake in shares of Apollo Global Management by 22.7% in the second quarter. Beach Investment Counsel Inc. PA now owns 159,548 shares of the financial services provider’s stock valued at $18,838,000 after acquiring an additional 29,518 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI boosted their target price on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the company from $124.00 to $123.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Apollo Global Management from $130.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, UBS Group boosted their target price on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.00.

Apollo Global Management Trading Up 1.5 %

Shares of NYSE:APO traded up $1.52 during trading on Friday, hitting $104.71. The company had a trading volume of 2,779,668 shares, compared to its average volume of 2,541,628. The company has a fifty day simple moving average of $117.06 and a two-hundred day simple moving average of $112.66. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $126.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market cap of $59.49 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). The business 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 17.97%. During the same period last year, the company earned $1.54 earnings per share. As a group, equities analysts forecast that Apollo Global Management, Inc. will post 7.09 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.77%. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Apollo Global Management Profile

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.