Hsbc Holdings PLC Acquires 33,484 Shares of Apollo Global Management, Inc. (NYSE:APO)

Hsbc Holdings PLC boosted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 280,068 shares of the financial services provider’s stock after acquiring an additional 33,484 shares during the quarter. Hsbc Holdings PLC’s holdings in Apollo Global Management were worth $33,094,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after purchasing an additional 750,781 shares during the last quarter. Capital International Investors increased its position in shares of Apollo Global Management by 2.1% during the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after purchasing an additional 218,566 shares during the last quarter. Putnam Investments LLC increased its position in shares of Apollo Global Management by 2.8% during 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. Capital Research Global Investors increased its position in shares of 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 valued at $532,852,000 after purchasing an additional 1,360,525 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Apollo Global Management by 3.8% during the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after purchasing an additional 97,797 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Pauline Richards bought 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 2.4 %

NYSE APO opened at $124.48 on Friday. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $126.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day simple moving average of $113.64 and a two-hundred day simple moving average of $113.69. The stock has a market cap of $70.72 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. During the same quarter last year, the business posted $1.54 EPS. On average, analysts forecast that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is presently 20.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APO. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Argus reduced their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. TD Cowen raised their price target on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Keefe, Bruyette & Woods raised their price target on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. One research 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’s stock. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $129.06.

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.