AE Wealth Management LLC Has $1.91 Million Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• AE Wealth Management LLC has increased its holdings in Apollo Global Management Inc. by 69.4%, now owning shares worth $1.91 million after acquiring an additional 5,714 shares.
• Multiple large investors have significantly boosted their positions in Apollo Global Management, with Massachusetts Financial Services increasing their holdings by 245.9% in the last quarter.
• Apollo Global Management recently announced an increase in its quarterly dividend from $0.46 to $0.51, reflecting a growing commitment to returning value to shareholders.

AE Wealth Management LLC boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 69.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,944 shares of the financial services provider's stock after buying an additional 5,714 shares during the period. AE Wealth Management LLC's holdings in Apollo Global Management were worth $1,910,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 1,739,807 shares during the last quarter. Northern Trust Corp lifted its holdings 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 valued at $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Apollo Global Management by 200,666.6% during the fourth quarter. Bessemer Group Inc. now owns 1,226,684 shares of the financial services provider's stock valued at $202,598,000 after buying an additional 1,226,073 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the company'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 transaction of $530,280.00. Following the sale, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

APO has been the subject of a number of analyst reports. Bank of America increased their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Citigroup increased their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Piper Sandler cut 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. Barclays increased their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Raymond James Financial assumed coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $161.00.

Apollo Global Management Stock Performance

NYSE:APO opened at $151.10 on Friday. The company has a market capitalization of $86.35 billion, a P/E ratio of 26.46, a P/E/G ratio of 1.70 and a beta of 1.59. The business has a fifty day simple moving average of $139.60 and a two-hundred day simple moving average of $142.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

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 for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the company posted $1.72 EPS. The firm's revenue was down 21.2% compared to the same quarter last year. On average, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.51 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.35%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

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.

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