2,000 Shares in Apollo Global Management, Inc. (NYSE:APO) Purchased by SouthState Corp

Posted by ABMN Staff on Aug 5th, 2022

SouthState Corp acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,000 shares of the financial services provider’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds have also bought and sold shares of APO. Evoke Wealth LLC bought a new stake in Apollo Global Management during the fourth quarter worth about $25,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $25,000. Clearstead Advisors LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $27,000. CWM LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Apollo Global Management in the first quarter worth about $36,000. Institutional investors own 61.48% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $54.60, for a total transaction of $819,000.00. Following the transaction, the chief financial officer now directly owns 526,385 shares in the company, valued at approximately $28,740,621. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TheStreet downgraded Apollo Global Management from a “b” rating to a “c” rating in a research note 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 target price for the company in a research report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Apollo Global Management from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Wells Fargo & Company decreased their target price 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. Finally, Morgan Stanley downgraded shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $81.00 to $60.00 in a research report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Hold” and an average price target of $79.06.

Apollo Global Management Price Performance

Shares of APO opened at $57.99 on Friday. 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 business’s fifty day moving average is $53.26 and its 200 day moving average is $58.12. Apollo Global Management, Inc. has a 12-month low of $45.97 and a 12-month high of $81.07. The stock has a market cap of $33.31 billion, a P/E ratio of 18.59, a P/E/G ratio of 0.67 and a beta of 1.65.

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

About Apollo Global Management

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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.