Envestnet Asset Management Inc. Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Envestnet Asset Management Inc. acquired a new position in Apollo Global Management, Inc. (NYSE:APOGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 309,845 shares of the financial services provider’s stock, valued at approximately $19,207,000. Envestnet Asset Management Inc. owned approximately 0.05% of Apollo Global Management at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Apollo Global Management by 10.4% in the fourth quarter. BlackRock Inc. now owns 18,304,215 shares of the financial services provider’s stock worth $1,325,773,000 after purchasing an additional 1,725,787 shares in the last quarter. Invesco Ltd. boosted its holdings in Apollo Global Management by 1.6% in the fourth quarter. Invesco Ltd. now owns 7,080,218 shares of the financial services provider’s stock worth $512,820,000 after purchasing an additional 109,087 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Apollo Global Management by 15.7% in the fourth quarter. EdgePoint Investment Group Inc. now owns 5,489,803 shares of the financial services provider’s stock worth $400,975,000 after purchasing an additional 745,559 shares in the last quarter. State Street Corp boosted its holdings in Apollo Global Management by 15.5% in the fourth quarter. State Street Corp now owns 4,202,680 shares of the financial services provider’s stock worth $304,400,000 after purchasing an additional 562,834 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Apollo Global Management by 17.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,756,241 shares of the financial services provider’s stock worth $272,065,000 after purchasing an additional 568,855 shares in the last quarter. 61.48% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $57.23 on Thursday. Apollo Global Management, Inc. has a 12-month low of $45.97 and a 12-month high of $81.07. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $32.88 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.67 and a beta of 1.65. The firm has a 50-day moving average price of $53.26 and a 200 day moving average price of $58.20.

Apollo Global Management (NYSE:APOGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.51. The firm had revenue of $584.00 million for the quarter, compared to analysts’ expectations of $576.77 million. Apollo Global Management had a net margin of 6.39% and a return on equity of 30.91%. During the same period in the prior year, the firm earned $0.66 earnings per share. Research analysts anticipate that Apollo Global Management, Inc. will post 5.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APO has been the subject of a number of recent research reports. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Wells Fargo & Company cut their price objective on shares of Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. TheStreet lowered shares of Apollo Global Management from a “b” rating to a “c” rating in a research report on Thursday, May 5th. Oppenheimer raised shares of Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research report on Wednesday, April 13th. Finally, Morgan Stanley lowered shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $81.00 to $60.00 in a research report on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Hold” and a consensus target price of $79.06.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $54.60, for a total transaction of $819,000.00. Following the sale, the chief financial officer now directly owns 526,385 shares of the company’s stock, valued at $28,740,621. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.90% of the company’s stock.

Apollo Global Management Profile

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Apollo Global Management, Inc is a private equity firm specializing investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

See Also

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

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