GM Advisory Group LLC Invests $1.09 Million in Apollo Global Management Inc. $APO

Key Points

• GM Advisory Group LLC has acquired 7,969 shares in Apollo Global Management Inc., totaling approximately $1,091,000 in value.
• Apollo Global Management's most recent quarterly earnings report shows earnings per share of $1.92, exceeding analyst estimates by $0.08.
• The firm has announced a quarterly dividend of $0.51, which gives an annualized yield of 1.5% to investors of record by August 18th.

GM Advisory Group LLC acquired a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,969 shares of the financial services provider's stock, valued at approximately $1,091,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after acquiring an additional 893,428 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Northern Trust Corp grew its stake in shares of Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after acquiring an additional 706,181 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Apollo Global Management by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock worth $412,641,000 after acquiring an additional 112,736 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APO has been the subject of several research reports. 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. Citigroup raised their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. UBS Group reduced 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. Barclays raised their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.28.

Apollo Global Management Price Performance

Shares of NYSE:APO traded up $0.7530 on Monday, hitting $134.9530. The stock had a trading volume of 1,060,476 shares, compared to its average volume of 3,587,041. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The firm's 50 day moving average price is $142.91 and its 200-day moving average price is $139.14. The company has a market capitalization of $77.20 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $1.64 EPS. On average, equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Apollo Global Management's payout ratio is currently 38.13%.

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.