Westwood Holdings Group Inc. Invests $2.90 Million in Apollo Global Management, Inc. (NYSE:APO)

Westwood Holdings Group Inc. bought a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 17,550 shares of the financial services provider's stock, valued at approximately $2,899,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wexford Capital LP bought a new stake in Apollo Global Management in the 4th quarter valued at $202,000. Tidal Investments LLC lifted its position in Apollo Global Management by 2.2% in the fourth quarter. Tidal Investments LLC now owns 18,812 shares of the financial services provider's stock worth $3,107,000 after buying an additional 412 shares during the last quarter. Toronto Dominion Bank boosted its stake in Apollo Global Management by 209.0% during the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after buying an additional 110,014 shares during the period. Scientech Research LLC bought a new position in Apollo Global Management during the fourth quarter valued at $1,291,000. Finally, Snowden Capital Advisors LLC raised its stake in shares of Apollo Global Management by 13.3% in the fourth quarter. Snowden Capital Advisors LLC now owns 3,903 shares of the financial services provider's stock valued at $645,000 after acquiring an additional 459 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of NYSE:APO traded up $0.16 during midday trading on Friday, hitting $130.97. The company's stock had a trading volume of 2,339,526 shares, compared to its average volume of 3,943,923. The company has a market cap of $74.71 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The business's 50 day simple moving average is $132.93 and its 200 day simple moving average is $152.16.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly 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). The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations 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 quarter last year, the company earned $1.72 earnings per share. On average, analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase 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%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was 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 of the company's stock, valued at approximately $4,913,877,766. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APO. Bank of America increased their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Piper Sandler dropped their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Raymond James began 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 objective on the stock. Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, UBS Group cut 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. One 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.00.

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.