OLD National Bancorp IN Has $435,000 Position in Apollo Global Management, LLC (APO)

OLD National Bancorp IN cut its stake in shares of Apollo Global Management, LLC (NYSE:APO) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,449 shares of the financial services provider’s stock after selling 2,773 shares during the period. OLD National Bancorp IN’s holdings in Apollo Global Management were worth $435,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in APO. 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 in the last quarter. Bank of Montreal Can purchased a new stake in shares of Apollo Global Management during the second quarter valued at $54,333,000. Koshinski Asset Management Inc. purchased a new stake in shares of Apollo Global Management during the second quarter valued at $202,000. DnB Asset Management AS raised its stake in shares of Apollo Global Management by 33.2% in the second quarter. DnB Asset Management AS now owns 144,900 shares of the financial services provider’s stock valued at $3,838,000 after buying an additional 36,100 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Apollo Global Management during the first quarter valued at $52,393,000. 75.47% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management, LLC (APO) traded down 0.37% during midday trading on Friday, reaching $29.39. The company’s stock had a trading volume of 852,885 shares. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 11.51 and a beta of 1.22. The firm has a 50-day moving average price of $27.68 and a 200 day moving average price of $25.55. Apollo Global Management, LLC has a 52-week low of $17.38 and a 52-week high of $30.18.

Apollo Global Management (NYSE:APO) last released its quarterly 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. Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The company had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. During the same period last year, the company earned $0.98 earnings per share. Apollo Global Management’s revenue for the quarter was down 34.5% compared to the same quarter last year. Equities research analysts predict that Apollo Global Management, LLC will post $2.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.52 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Friday, August 18th. Apollo Global Management’s dividend payout ratio is 76.56%.

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Several brokerages recently weighed in on APO. Morgan Stanley boosted their price objective on Apollo Global Management from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. JMP Securities reissued an “outperform” rating and issued a $32.00 price objective on shares of Apollo Global Management in a report on Friday, August 4th. UBS AG reissued a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Apollo Global Management in a report on Friday, August 4th. Deutsche Bank AG boosted their price objective on Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Apollo Global Management has an average rating of “Buy” and a consensus price target of $28.90.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc acquired 859,600 shares of Apollo Global Management stock in a transaction on Monday, May 22nd. The shares were purchased at an average cost of $26.22 per share, with a total value of $22,538,712.00. 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 Apollo Global Management stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $28.88 per share, for a total transaction of $866,400.00. The disclosure for this purchase can be found here. Insiders have bought 2,750,318 shares of company stock worth $74,234,505 over the last three months. 4.11% of the stock is owned by 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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