Point72 Asia Singapore Pte. Ltd. Buys 39,620 Shares of Apollo Global Management, Inc. (NYSE:APO)

Point72 Asia Singapore Pte. Ltd. increased its stake in Apollo Global Management, Inc. (NYSE:APO) by 529.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,109 shares of the financial services provider’s stock after buying an additional 39,620 shares during the quarter. Apollo Global Management comprises approximately 1.2% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 13th largest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in Apollo Global Management were worth $5,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of APO. True Wealth Design LLC purchased a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $33,000. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $35,000. Carolinas Wealth Consulting LLC purchased a new position in Apollo Global Management during the 4th quarter valued at $38,000. J.Safra Asset Management Corp boosted its stake in shares of 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 valued at $39,000 after purchasing an additional 305 shares during the period. Finally, Riverview Trust Co bought a new position in shares of Apollo Global Management in the first quarter worth about $45,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Redburn Atlantic started coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Wells Fargo & Company started coverage on Apollo Global Management in a report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Apollo Global Management Stock Down 0.1 %

NYSE:APO opened at $125.06 on Wednesday. The company’s 50-day simple moving average is $113.72 and its 200-day simple moving average is $113.94. 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 fifty-two week low of $77.11 and a fifty-two week high of $126.93. The stock has a market capitalization of $71.05 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its earnings results 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 net margin of 21.90% and a return on equity of 16.98%. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the previous year, the company earned $1.54 EPS. On average, equities analysts anticipate that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm 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. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.48%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

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.