Apollo Global Management Inc. (NYSE:APO) Position Increased by Principal Financial Group Inc.

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

Several other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at $25,000. Hopwood Financial Services Inc. acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $33,000. ORG Partners LLC boosted its position in shares of Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 171 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $45,000. Finally, Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction that occurred on 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 directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Up 1.4%

APO stock opened at $144.73 on Friday. The company has a market capitalization of $82.71 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.50 and a beta of 1.59. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The business has a 50 day simple moving average of $136.13 and a two-hundred day simple moving average of $144.77. 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 (NYSE:APO - Get Free Report) last released 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 net margin of 14.59% and a return on equity of 13.45%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter in the previous year, the company posted $1.72 EPS. The business's quarterly revenue was down 21.2% on a year-over-year basis. Research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APO. Barclays upped their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Citigroup reduced their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. UBS Group reduced their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Morgan Stanley decreased their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. One 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 data from MarketBeat.com, the stock currently has a consensus 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.

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