Maven Securities LTD decreased its position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 56.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,500 shares of the financial services provider's stock after selling 3,225 shares during the quarter. Maven Securities LTD's holdings in Apollo Global Management were worth $413,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Vanguard Group Inc. boosted its stake in Apollo Global Management by 8.9% in 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 purchasing an additional 3,691,700 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Apollo Global Management by 36.9% in the 4th 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 acquiring an additional 1,739,807 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after acquiring an additional 1,460,689 shares in the last quarter. Institutional investors own 77.06% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Barclays raised their price target on Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a report on Monday, May 5th. UBS Group lowered their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $157.89.
Check Out Our Latest Analysis on Apollo Global Management
Insiders Place Their Bets
In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.20% of the company's stock.
Apollo Global Management Trading Down 0.1%
Apollo Global Management stock traded down $0.19 during trading hours on Friday, reaching $143.80. The company had a trading volume of 2,399,313 shares, compared to its average volume of 3,911,441. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50-day moving average price of $132.95 and a 200 day moving average price of $152.46. The firm has a market cap of $82.04 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.
Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. Apollo Global Management's revenue for the quarter was down 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. Equities analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current year.
Apollo Global Management Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, May 16th. Apollo Global Management's payout ratio is 35.73%.
About Apollo Global Management
(
Free Report)
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.
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