Westwood Holdings Group Inc. Buys Shares of 17,550 Apollo Global Management, Inc. (NYSE:APO)

Westwood Holdings Group Inc. purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,550 shares of the financial services provider's stock, valued at approximately $2,899,000.

Several other institutional investors and hedge funds have also bought and sold shares of APO. Assenagon Asset Management S.A. lifted its position in shares of Apollo Global Management by 9.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 11,115 shares of the financial services provider's stock worth $1,836,000 after purchasing an additional 954 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Apollo Global Management by 26.2% during the 4th quarter. Park Avenue Securities LLC now owns 4,350 shares of the financial services provider's stock worth $718,000 after acquiring an additional 903 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Apollo Global Management in the 4th quarter valued at approximately $704,000. Ritholtz Wealth Management bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $229,000. Finally, Merit Financial Group LLC grew its stake in Apollo Global Management by 18.3% in the fourth quarter. Merit Financial Group LLC now owns 2,315 shares of the financial services provider's stock worth $382,000 after purchasing an additional 358 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APO. TD Cowen cut their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley decreased their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. UBS Group decreased their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Piper Sandler dropped their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Raymond James initiated coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned 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.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Trading Up 0.1%

Shares of APO stock traded up $0.16 during trading hours on Monday, hitting $130.97. 2,339,526 shares of the company were exchanged, compared to its average volume of 3,951,925. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $74.71 billion, a PE ratio of 17.92, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a fifty day moving average of $132.93 and a 200 day moving average of $152.02.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate 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 quarterly revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 EPS. Analysts expect 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. Investors of record on Friday, May 16th will be issued a $0.51 dividend. The ex-dividend date is Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.56%. Apollo Global Management's dividend payout ratio is currently 35.73%.

Insider Buying and Selling at Apollo Global Management

In related news, insider Lb 2018 Gst Trust bought 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.

Apollo Global Management 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.