QRG Capital Management Inc. Purchases 2,307 Shares of Apollo Global Management Inc. (NYSE:APO)

QRG Capital Management Inc. boosted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,131 shares of the financial services provider's stock after purchasing an additional 2,307 shares during the quarter. QRG Capital Management Inc.'s holdings in Apollo Global Management were worth $4,263,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APO. Valeo Financial Advisors LLC bought a new position in Apollo Global Management during the 4th quarter worth $249,000. Principal Securities Inc. boosted its holdings in shares of Apollo Global Management by 23.4% during the fourth quarter. Principal Securities Inc. now owns 3,834 shares of the financial services provider's stock valued at $633,000 after acquiring an additional 727 shares during the period. Allworth Financial LP boosted its holdings in shares of Apollo Global Management by 26.1% during the fourth quarter. Allworth Financial LP now owns 919 shares of the financial services provider's stock valued at $155,000 after acquiring an additional 190 shares during the period. Principal Financial Group Inc. grew its position in shares of Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider's stock worth $89,646,000 after acquiring an additional 483,369 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Apollo Global Management by 273.7% in the 4th quarter. CIBC Asset Management Inc now owns 71,346 shares of the financial services provider's stock worth $11,784,000 after acquiring an additional 52,252 shares during the period. Institutional investors own 77.06% of the company's stock.

Insider Activity

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Apollo Global Management Trading Up 0.5%

NYSE:APO traded up $0.66 during mid-day trading on Thursday, hitting $133.02. The company had a trading volume of 2,300,738 shares, compared to its average volume of 3,949,072. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The firm has a market cap of $76.02 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.37 and a beta of 1.59. The business's fifty day moving average is $132.96 and its two-hundred day moving average is $147.89.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results 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). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period last year, the firm earned $1.72 EPS. Apollo Global Management's quarterly revenue was down 21.2% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.51 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APO shares. Citigroup reduced their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Bank of America lifted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. TD Cowen decreased their price target on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Piper Sandler lowered their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Barclays upped their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $159.00.

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.