Cheyne Capital Management UK LLP increased its stake in shares of Apollo Global Management LLC (NYSE:APO) by 56.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,100 shares of the company’s stock after buying an additional 35,000 shares during the period. Apollo Global Management comprises 1.2% of Cheyne Capital Management UK LLP’s investment portfolio, making the stock its 10th largest position. Cheyne Capital Management UK LLP’s holdings in Apollo Global Management were worth $1,472,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in APO. Oakworth Capital Inc. bought a new position in shares of Apollo Global Management during the second quarter valued at $128,000. BlackRock Institutional Trust Company N.A. acquired a new position in Apollo Global Management during the first quarter valued at approximately $135,000. Williams Jones & Associates LLC boosted its position in Apollo Global Management by 4.2% in the first quarter. Williams Jones & Associates LLC now owns 26,050 shares of the company’s stock valued at $446,000 after buying an additional 1,050 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Apollo Global Management during the first quarter valued at approximately $452,000. Finally, LPL Financial LLC boosted its position in Apollo Global Management by 10.7% in the first quarter. LPL Financial LLC now owns 54,157 shares of the company’s stock valued at $912,000 after buying an additional 5,228 shares during the last quarter.
Apollo Global Management LLC (NYSE:APO) traded up 1.01% during midday trading on Friday, hitting $17.96. The stock had a trading volume of 1,865,452 shares. Apollo Global Management LLC has a 1-year low of $12.35 and a 1-year high of $19.18. The company has a market capitalization of $3.32 billion, a PE ratio of 18.67 and a beta of 1.77. The stock’s 50-day moving average is $18.34 and its 200-day moving average is $16.97.
Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.19. The company earned $351.73 million during the quarter, compared to analysts’ expectations of $350.06 million. The company’s revenue was up 87.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. Equities research analysts forecast that Apollo Global Management LLC will post ($0.74) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.48 annualized dividend and a yield of 8.24%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.25.
APO has been the subject of several recent analyst reports. Deutsche Bank AG restated a “hold” rating and set a $17.00 target price on shares of Apollo Global Management in a research report on Sunday, June 5th. Argus boosted their target price on Apollo Global Management from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Zacks Investment Research upgraded Apollo Global Management from a “sell” rating to a “hold” rating and set a $21.00 target price for the company in a research report on Monday, August 8th. Vetr upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating and set a $20.76 target price for the company in a research report on Thursday, September 8th. Finally, Oppenheimer Holdings Inc. upgraded Apollo Global Management from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $17.61 to $19.00 in a research report on Friday, August 5th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Apollo Global Management currently has an average rating of “Buy” and an average target price of $20.18.
In related news, Director Pauline Richards purchased 1,800 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was bought at an average price of $18.41 per share, for a total transaction of $33,138.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marc J. Rowan sold 565,519 shares of Apollo Global Management stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $18.62, for a total value of $10,529,963.78. The disclosure for this sale can be found here.
Apollo Global Management Company Profile
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 operates through three segments: Private equity, Credit and Real estate.
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