Fulton Bank N.A. Has $795,000 Stake in Apollo Global Management, Inc. (NYSE:APO)

Fulton Bank N.A. raised its position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 61.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,806 shares of the financial services provider's stock after purchasing an additional 2,209 shares during the quarter. Fulton Bank N.A.'s holdings in Apollo Global Management were worth $795,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harbor Investment Advisory LLC grew its holdings in Apollo Global Management by 7.4% during the first quarter. Harbor Investment Advisory LLC now owns 17,167 shares of the financial services provider's stock worth $2,351,000 after acquiring an additional 1,180 shares during the period. Baker Tilly Wealth Management LLC boosted its position in shares of Apollo Global Management by 3.3% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 5,770 shares of the financial services provider's stock valued at $790,000 after purchasing an additional 182 shares in the last quarter. Czech National Bank grew its stake in shares of Apollo Global Management by 5.9% in the 1st quarter. Czech National Bank now owns 102,667 shares of the financial services provider's stock worth $14,059,000 after purchasing an additional 5,749 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Apollo Global Management by 2.9% in the 1st quarter. Rhumbline Advisers now owns 847,085 shares of the financial services provider's stock worth $116,000,000 after purchasing an additional 23,943 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Apollo Global Management by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,159 shares of the financial services provider's stock valued at $570,000 after purchasing an additional 119 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

NYSE:APO traded down $0.11 during mid-day trading on Thursday, hitting $130.19. The company's stock had a trading volume of 1,969,243 shares, compared to its average volume of 3,936,690. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $130.89 and a 200-day moving average of $150.37. The company has a market capitalization of $74.40 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period in the prior year, the firm posted $1.72 EPS. Apollo Global Management's revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, equities analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.57%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is currently 35.73%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Raymond James started coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target on the stock. UBS Group decreased their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. TD Cowen reduced their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Piper Sandler cut their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $159.00.

Insider Buying and Selling at Apollo Global Management

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

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.