Cary Street Partners Financial LLC Invests $977,000 in Apollo Global Management, Inc. (NYSE:APO)

Cary Street Partners Financial LLC purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,913 shares of the financial services provider's stock, valued at approximately $977,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management during the fourth quarter worth $34,000. Byrne Asset Management LLC acquired a new position in Apollo Global Management during the 4th quarter valued at $37,000. Retirement Wealth Solutions LLC bought a new stake in Apollo Global Management in the 4th quarter valued at $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management in the 4th quarter worth $45,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

APO has been the topic of a number of recent research reports. UBS Group decreased their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lowered their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Piper Sandler reduced their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company reduced their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Raymond James started coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $157.89.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at $49,470,351.48. This trade represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 509,000 shares of company stock valued at $72,321,680. Company insiders own 8.50% of the company's stock.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock traded down $0.70 during trading on Friday, reaching $132.49. The company's stock had a trading volume of 2,734,832 shares, compared to its average volume of 3,880,967. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a 50-day moving average price of $131.82 and a two-hundred day moving average price of $152.55. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $75.58 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results 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). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same quarter in the previous year, the company posted $1.72 earnings per share. Apollo Global Management's revenue for the quarter was down 21.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date is Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Apollo Global Management Company Profile

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.