Sequoia Financial Advisors LLC Raises Stock Position in Apollo Global Management Inc. (NYSE:APO)

Sequoia Financial Advisors LLC raised its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 71.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,136 shares of the financial services provider's stock after buying an additional 30,967 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Apollo Global Management were worth $10,152,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in APO. Amundi lifted its holdings in shares of Apollo Global Management by 13.2% in the 4th quarter. Amundi now owns 801,260 shares of the financial services provider's stock valued at $129,788,000 after acquiring an additional 93,451 shares during the last quarter. State of Michigan Retirement System bought a new stake in Apollo Global Management during the fourth quarter worth approximately $20,034,000. Massachusetts Financial Services Co. MA raised its position in 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 purchasing an additional 1,886,146 shares during the period. Coordinated Financial Services Inc. bought a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $473,000. Finally, Blue Whale Capital LLP purchased a new position in shares of Apollo Global Management in the 4th quarter worth approximately $47,400,000. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent research reports. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Barclays increased their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Citigroup dropped 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 research note on Tuesday, April 8th. TD Cowen reduced their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group decreased their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Stock Up 2.6%

NYSE APO traded up $3.66 on Friday, reaching $143.01. 8,391,329 shares of the stock traded hands, compared to its average volume of 3,976,858. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market cap of $81.73 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.42 and a beta of 1.59. The company has a fifty day moving average price of $134.22 and a 200-day moving average price of $146.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the company earned $1.72 earnings per share. The firm's revenue was down 21.2% on a year-over-year basis. As a group, research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.51 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's payout ratio is presently 35.73%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction dated 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 in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. 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.