8,062 Shares in Apollo Global Management Inc. $APO Acquired by Waterway Wealth Management LLC

Key Points

• Waterway Wealth Management LLC disclosed a new position in Apollo Global Management, buying 8,062 shares worth about $1.17 million in the fourth quarter.
• Analysts remain generally constructive on APO, with a consensus rating of “Moderate Buy” and an average price target of $151.23, even though some firms have recently cut their targets or downgraded the stock.
• Apollo reported Q1 earnings of $1.94 per share, topping estimates, and recently raised its quarterly dividend to $0.5625 per share, though revenue came in below expectations and the payout ratio is high.

Waterway Wealth Management LLC purchased a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,062 shares of the financial services provider's stock, valued at approximately $1,167,000.

Several other institutional investors also recently modified their holdings of APO. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at $29,000. Physician Wealth Advisors Inc. increased its holdings in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after buying an additional 96 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Apollo Global Management in the fourth quarter valued at $42,000. City Holding Co. increased its holdings in shares of Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after buying an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider's stock valued at $53,000 after buying an additional 129 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on APO. Wall Street Zen cut Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. TD Cowen lowered their price objective on shares of Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Evercore reiterated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group lowered their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.23.

Apollo Global Management Trading Up 1.7%

Apollo Global Management stock opened at $138.41 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The company's fifty day simple moving average is $126.23 and its 200-day simple moving average is $128.06. The stock has a market cap of $79.80 billion, a P/E ratio of 88.16, a P/E/G ratio of 1.17 and a beta of 1.50.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $1.82 EPS. Apollo Global Management's quarterly revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's dividend payout ratio (DPR) is presently 143.31%.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares of the company's stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.30% of the company's stock.

Apollo Global Management Profile

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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