Rhumbline Advisers Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Rhumbline Advisers increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 847,085 shares of the financial services provider's stock after purchasing an additional 23,943 shares during the period. Rhumbline Advisers owned 0.15% of Apollo Global Management worth $116,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in APO. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $25,000. Hopwood Financial Services Inc. acquired a new position in Apollo Global Management during the 4th quarter worth $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the 4th quarter worth $34,000. Byrne Asset Management LLC bought a new stake in Apollo Global Management in the fourth quarter valued at about $37,000. Finally, HM Payson & Co. acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $45,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Raymond James assumed coverage on Apollo Global Management in a research note on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective on the stock. Citigroup lowered their price target 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. Bank of America lifted their price target 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. Finally, Piper Sandler decreased their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded up $0.83 during trading hours on Thursday, reaching $131.13. The company's stock had a trading volume of 540,369 shares, compared to its average volume of 3,912,743. The company's 50 day simple moving average is $130.89 and its 200 day simple moving average is $150.37. The stock has a market cap of $74.94 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm's revenue was down 21.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 EPS. As a group, analysts expect 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. Investors 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 1.56%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.

Insider Transactions at Apollo Global Management

In other news, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This trade represents 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 currently owned by corporate insiders.

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.