Massachusetts Financial Services Co. MA Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

Massachusetts Financial Services Co. MA purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 533,344 shares of the financial services provider’s stock, valued at approximately $62,972,000. Massachusetts Financial Services Co. MA owned approximately 0.09% of Apollo Global Management at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in APO. DSM Capital Partners LLC acquired a new position in Apollo Global Management in the 4th quarter valued at $31,000. True Wealth Design LLC acquired a new position in Apollo Global Management in the fourth quarter valued at about $33,000. Cullen Frost Bankers Inc. bought a new stake in Apollo Global Management during the second quarter worth about $35,000. Carolinas Wealth Consulting LLC acquired a new stake in Apollo Global Management during the fourth quarter worth about $38,000. Finally, J.Safra Asset Management Corp grew its stake in Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APO has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Barclays cut their target price on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company began coverage on Apollo Global Management in a research report on Thursday, September 12th. They set an “overweight” rating and a $132.00 price objective for the company. Finally, StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $129.06.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the firm’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 in the company, valued at approximately $9,007,801.68. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is owned by company insiders.

Apollo Global Management Stock Up 3.4 %

Shares of APO opened at $121.58 on Friday. The stock’s 50-day moving average price is $113.55 and its two-hundred day moving average price is $113.52. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.45. The company has a market capitalization of $69.08 billion, a PE ratio of 13.44, a PEG ratio of 1.13 and a beta of 1.61. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36.

Apollo Global Management (NYSE:APO) last posted 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 during the quarter, compared to analyst estimates of $873.18 million. During the same period in the prior year, the firm earned $1.54 earnings per share. On average, analysts anticipate that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio is presently 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.