Apollo Global Management Inc. $APO Shares Acquired by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Apollo Global Management by 11.1%, acquiring an additional 37,510 shares in the first quarter, bringing its total ownership to 376,900 shares valued at approximately $51.6 million.
• Multiple large investors have enhanced their stakes in Apollo Global Management, with Principal Financial Group Inc. increasing its holdings by 1.4% and Clearview Wealth Advisors LLC boosting theirs by 420.7% in the same period.
• Apollo Global Management recently reported a quarterly EPS of $1.92, exceeding analysts' expectations, along with declaring a quarterly dividend of $0.51, translating to an annual yield of 1.5%.

Adage Capital Partners GP L.L.C. increased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376,900 shares of the financial services provider's stock after purchasing an additional 37,510 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Apollo Global Management worth $51,613,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in APO. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Apollo Global Management by 1.3% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,821 shares of the financial services provider's stock valued at $3,399,000 after purchasing an additional 312 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in shares of Apollo Global Management by 20.1% in the 1st quarter. First Manhattan CO. LLC. now owns 25,093 shares of the financial services provider's stock valued at $3,436,000 after buying an additional 4,204 shares during the period. Newbrook Capital Advisors LP boosted its stake in Apollo Global Management by 1.7% during the 1st quarter. Newbrook Capital Advisors LP now owns 612,273 shares of the financial services provider's stock valued at $83,845,000 after purchasing an additional 10,396 shares during the period. Focus Partners Advisor Solutions LLC lifted its stake in shares of Apollo Global Management by 48.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 3,347 shares of the financial services provider's stock worth $458,000 after acquiring an additional 1,099 shares during the period. Finally, Point72 Europe London LLP lifted its stake in Apollo Global Management by 5.6% during the first quarter. Point72 Europe London LLP now owns 124,484 shares of the financial services provider's stock valued at $17,047,000 after purchasing an additional 6,583 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the firm'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 value 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. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company's stock.

Apollo Global Management Trading Up 2.2%

Shares of Apollo Global Management stock traded up $2.86 on Monday, hitting $134.41. The stock had a trading volume of 3,246,022 shares, compared to its average volume of 3,596,489. The stock's 50-day simple moving average is $142.65 and its two-hundred day simple moving average is $137.35. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The stock has a market cap of $76.89 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.42 and a beta of 1.69. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter last year, the firm posted $1.64 earnings per share. As a group, sell-side analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio is 38.13%.

Wall Street Analyst Weigh In

APO has been the subject of several recent research reports. Citigroup boosted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Barclays lifted their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Evercore ISI increased their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $164.56.

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.