Altus Wealth Group LLC Acquires 5,013 Shares of Apollo Global Management Inc. (NYSE:APO)

Altus Wealth Group LLC grew its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 38.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,003 shares of the financial services provider's stock after buying an additional 5,013 shares during the quarter. Apollo Global Management makes up 1.2% of Altus Wealth Group LLC's portfolio, making the stock its 16th largest position. Altus Wealth Group LLC's holdings in Apollo Global Management were worth $2,465,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in APO. Ellevest Inc. boosted its position in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after buying an additional 67 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in Apollo Global Management by 2.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 71 shares during the last quarter. Vivaldi Capital Management LP raised its holdings in Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock worth $566,000 after purchasing an additional 71 shares during the last quarter. Tower Wealth Partners Inc. lifted its position in Apollo Global Management by 4.4% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 74 shares during the period. Finally, Colonial Trust Co SC lifted its position in Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 79 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Price Performance

NYSE APO opened at $143.01 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $81.73 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.48 and a beta of 1.59. The business has a 50 day simple moving average of $134.54 and a 200 day simple moving average of $145.66. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The firm's revenue was down 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 EPS. Analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is 35.73%.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. TD Cowen dropped their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Citigroup reduced their price target on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, Bank of America raised their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.00.

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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