Bank of New York Mellon Corp Raises Stake in Apollo Investment Corporation (NASDAQ:AINV)

Bank of New York Mellon Corp boosted its position in Apollo Investment Corporation (NASDAQ:AINV) by 48.5% during the first quarter, Holdings Channel reports. The firm owned 21,132 shares of the asset manager’s stock after buying an additional 6,901 shares during the period. Bank of New York Mellon Corp’s holdings in Apollo Investment Corporation were worth $138,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD increased its position in Apollo Investment Corporation by 122.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 816,242 shares of the asset manager’s stock worth $5,354,000 after buying an additional 448,680 shares during the period. Norges Bank purchased a new position in Apollo Investment Corporation during the fourth quarter worth approximately $964,000. Wells Fargo & Company MN increased its position in Apollo Investment Corporation by 5.6% in the first quarter. Wells Fargo & Company MN now owns 2,714,931 shares of the asset manager’s stock worth $17,809,000 after buying an additional 143,668 shares during the period. Advisors Asset Management Inc. increased its position in Apollo Investment Corporation by 35.9% in the first quarter. Advisors Asset Management Inc. now owns 381,380 shares of the asset manager’s stock worth $2,502,000 after buying an additional 100,663 shares during the period. Finally, Camelot Portfolios LLC increased its position in Apollo Investment Corporation by 6.7% in the first quarter. Camelot Portfolios LLC now owns 1,039,652 shares of the asset manager’s stock worth $6,820,000 after buying an additional 65,059 shares during the period. Institutional investors own 46.29% of the company’s stock.

Shares of Apollo Investment Corporation (NASDAQ:AINV) traded up 0.32% during midday trading on Friday, hitting $6.29. The company had a trading volume of 1,035,249 shares. The company’s 50 day moving average is $6.37 and its 200 day moving average is $6.37. Apollo Investment Corporation has a one year low of $5.65 and a one year high of $6.82.

Apollo Investment Corporation (NASDAQ:AINV) last released its quarterly earnings results on Friday, August 4th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $65.19 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The firm’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. Equities research analysts forecast that Apollo Investment Corporation will post $0.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 annualized dividend and a dividend yield of 9.54%. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 150.00%.

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AINV has been the topic of a number of research reports. Zacks Investment Research downgraded Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $6.50 price objective on shares of Apollo Investment Corporation in a report on Friday, April 28th. National Securities reiterated a “neutral” rating and set a $6.00 target price on shares of Apollo Investment Corporation in a report on Thursday, May 18th. BMO Capital Markets reiterated a “hold” rating and set a $6.00 target price on shares of Apollo Investment Corporation in a report on Thursday, May 18th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $7.00 target price on shares of Apollo Investment Corporation in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.33.

About Apollo Investment Corporation

Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.

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Institutional Ownership by Quarter for Apollo Investment Corporation (NASDAQ:AINV)

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