Asset Management One Co. Ltd. increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,195 shares of the financial services provider's stock after purchasing an additional 9,732 shares during the period. Asset Management One Co. Ltd.'s holdings in Apollo Global Management were worth $23,443,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in APO. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $25,000. ORG Partners LLC increased its stake in shares of Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the 4th quarter worth $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter worth $34,000. Finally, Farmers & Merchants Investments Inc. purchased a new position in Apollo Global Management during the first quarter valued at $39,000. 77.06% of the stock is owned by hedge funds and other institutional investors.
Apollo Global Management Price Performance
NYSE APO traded up $1.75 during trading on Thursday, hitting $139.48. 2,438,339 shares of the stock traded hands, compared to its average volume of 3,950,434. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a 50-day simple moving average of $133.97 and a 200-day simple moving average of $146.55. The company has a market capitalization of $79.71 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59.
Apollo Global Management (NYSE:APO - Get Free Report) last released 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 firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same quarter last year, the business posted $1.72 EPS. Apollo Global Management's revenue was down 21.2% compared to the same quarter last year. As a group, analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.
Apollo Global Management Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.46%. Apollo Global Management's dividend payout ratio is presently 35.73%.
Analyst Ratings Changes
Several research analysts have recently commented on APO shares. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Bank of America raised their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. UBS Group lowered their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, Piper Sandler dropped their target price on shares of 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 research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $159.00.
Check Out Our Latest Stock Report on Apollo Global Management
Insider Buying and Selling
In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer now directly owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by insiders.
About Apollo Global Management
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Free Report)
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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