Principal Financial Group Inc. Purchases 7,441 Shares of Apollo Global Management Inc. (NYSE:APO)

Principal Financial Group Inc. raised its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 550,221 shares of the financial services provider's stock after purchasing an additional 7,441 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Apollo Global Management worth $75,347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi grew its holdings in shares of Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after buying an additional 93,451 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after acquiring an additional 1,886,146 shares during the period. Coordinated Financial Services Inc. acquired a new stake in Apollo Global Management in the fourth quarter worth about $473,000. Blue Whale Capital LLP acquired a new stake in Apollo Global Management in the 4th quarter valued at about $47,400,000. Finally, Clearview Wealth Advisors LLC grew its position in Apollo Global Management by 420.7% during the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after purchasing an additional 17,418 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Up 1.0%

Shares of NYSE APO traded up $1.38 during midday trading on Wednesday, hitting $146.39. 1,547,423 shares of the company's stock were exchanged, compared to its average volume of 3,924,770. 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 twelve month low of $95.11 and a twelve month high of $189.49. The company has a market cap of $83.66 billion, a PE ratio of 25.63, a P/E/G ratio of 1.47 and a beta of 1.59. The firm's fifty day simple moving average is $136.38 and its 200-day simple moving average is $144.40.

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 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business's revenue was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. Research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal 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 given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.39%. The ex-dividend date 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 (DPR) is 35.73%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the firm's 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 transaction, the chief financial officer directly owned 373,164 shares in the company, valued at $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 is available at the SEC website. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Raymond James Financial started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Citigroup lowered their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. UBS Group dropped their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler decreased their target price 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. One 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 assigned a strong buy rating to the company. According to 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.