Apollo Global Management Inc. (NYSE:APO) Shares Bought by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Apollo Global Management Inc. by 10.0% in the first quarter, now holding approximately 1.17 million shares valued at around $160.9 million.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, translating to an annualized dividend yield of 1.4% and a payout ratio of 38.13%.
• The company reported earnings of $1.92 per share for the latest quarter, exceeding expectations, and forecasting a total of 8 earnings per share for the current fiscal year.

Kovitz Investment Group Partners LLC raised its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,174,713 shares of the financial services provider's stock after acquiring an additional 107,054 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.21% of Apollo Global Management worth $160,865,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in APO. Vanguard Group Inc. raised its holdings in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after purchasing an additional 893,428 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares in the last quarter. Northern Trust Corp raised its holdings in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after purchasing an additional 706,181 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock worth $412,641,000 after purchasing an additional 112,736 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Apollo Global Management Trading Down 0.9%

APO traded down $1.27 on Friday, reaching $139.41. 3,157,630 shares of the company's stock were exchanged, compared to its average volume of 3,140,754. The company's 50 day moving average is $142.86 and its 200-day moving average is $140.42. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%. During the same quarter in the prior year, the business earned $1.64 EPS. Equities analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APO shares. Wells Fargo & Company lifted their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays lifted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler cut 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. Citigroup lifted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and an average price target of $161.26.

Apollo Global Management Profile

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.