Ethic Inc. Acquires 2,660 Shares of Apollo Global Management, Inc. (NYSE:APO)

Ethic Inc. increased its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,094 shares of the financial services provider's stock after acquiring an additional 2,660 shares during the quarter. Ethic Inc.'s holdings in Apollo Global Management were worth $7,117,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after acquiring an additional 3,691,700 shares during the period. Geode Capital Management LLC increased its position in shares of Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after buying an additional 1,739,807 shares during the last quarter. Northern Trust Corp lifted its position in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after purchasing an additional 1,460,689 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after acquiring an additional 1,094,464 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on APO. Barclays boosted their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Raymond James started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. Wells Fargo & Company decreased their price objective on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.89.

Apollo Global Management Price Performance

APO stock traded up $1.78 during trading hours on Tuesday, hitting $145.23. 3,897,998 shares of the stock traded hands, compared to its average volume of 3,899,696. The stock has a 50-day simple moving average of $131.87 and a 200 day simple moving average of $152.59. The company has a market cap of $82.85 billion, a P/E ratio of 19.87, a P/E/G ratio of 1.17 and a beta of 1.67. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. Apollo Global Management's revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 EPS. Equities analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. The trade was a 1.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the company's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 509,000 shares of company stock worth $72,321,680. Corporate insiders own 8.20% of the company's stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.