LLBH Private Wealth Management LLC Takes Position in Apollo Global Management, LLC (APO)

LLBH Private Wealth Management LLC purchased a new stake in shares of Apollo Global Management, LLC (NYSE:APO) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 34,420 shares of the financial services provider’s stock, valued at approximately $910,000.

A number of other large investors have also modified their holdings of the stock. TCI Wealth Advisors Inc. raised its stake in shares of Apollo Global Management by 38.4% in the first quarter. TCI Wealth Advisors Inc. now owns 5,770 shares of the financial services provider’s stock valued at $140,000 after buying an additional 1,601 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Apollo Global Management by 98.2% in the first quarter. Penserra Capital Management LLC now owns 5,890 shares of the financial services provider’s stock valued at $143,000 after buying an additional 2,918 shares during the last quarter. Global X Management Co. LLC acquired a new stake in shares of Apollo Global Management during the first quarter valued at about $161,000. NEXT Financial Group Inc raised its stake in shares of Apollo Global Management by 106.5% in the second quarter. NEXT Financial Group Inc now owns 6,400 shares of the financial services provider’s stock valued at $169,000 after buying an additional 3,300 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Apollo Global Management during the first quarter valued at about $197,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Shares of Apollo Global Management, LLC (NYSE APO) opened at 29.75 on Tuesday. Apollo Global Management, LLC has a one year low of $17.38 and a one year high of $30.18. The company has a market cap of $5.73 billion, a P/E ratio of 11.65 and a beta of 1.22. The company’s 50 day moving average is $27.75 and its 200 day moving average is $25.67.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The firm had revenue of $432.87 million during the quarter, compared to analysts’ expectations of $455.29 million. Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The business’s revenue for the quarter was down 34.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities analysts predict that Apollo Global Management, LLC will post $2.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $2.08 annualized dividend and a dividend yield of 6.99%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.49. Apollo Global Management’s dividend payout ratio is currently 76.56%.

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Several equities research analysts have issued reports on the stock. Deutsche Bank AG lifted their price target on shares of Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 price target (up from $25.00) on shares of Apollo Global Management in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, July 3rd. Finally, UBS AG reiterated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Apollo Global Management in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Apollo Global Management currently has a consensus rating of “Buy” and a consensus price target of $28.90.

In related news, major shareholder Tiger Global Management Llc acquired 681,672 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $26.42 per share, for a total transaction of $18,009,774.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Kraft acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of $28.88 per share, with a total value of $866,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,750,318 shares of company stock valued at $74,234,505. 4.11% of the stock is currently owned by corporate insiders.

About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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