Blueshift Asset Management LLC Invests $289,000 in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Blueshift Asset Management LLC invested approximately $289,000 in Apollo Global Management, acquiring 2,107 shares during the 1st quarter.
• Apollo Global Management's CFO, Martin Kelly, sold 4,000 shares at an average price of $132.57, resulting in a total transaction of $530,280.
• Apollo Global Management reported $1.82 earnings per share for the latest quarter, missing analysts' expectations, and experienced a 21.2% year-over-year revenue decline.

Blueshift Asset Management LLC purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,107 shares of the financial services provider's stock, valued at approximately $289,000.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Apollo Global Management by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after buying an additional 7,441 shares during the last quarter. Blue Whale Capital LLP acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at approximately $47,400,000. Clearview Wealth Advisors LLC lifted its stake in Apollo Global Management by 420.7% during the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after purchasing an additional 17,418 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after purchasing an additional 110,014 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in Apollo Global Management during the first quarter valued at $871,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer directly owned 373,164 shares of the company's stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Trading Down 4.8%

Shares of NYSE:APO opened at $138.30 on Friday. The company has a 50 day moving average of $140.63 and a 200-day moving average of $142.24. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The firm has a market cap of $79.04 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.56 and a beta of 1.62. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

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 for the quarter, missing analysts' consensus estimates 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 analyst estimates of $977.14 million. During the same quarter last year, the company earned $1.72 earnings per share. The business's revenue for the quarter was down 21.2% on a year-over-year basis. As a group, analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APO shares. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Morgan Stanley cut their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Barclays upped their target price on 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 price target 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. Finally, Citigroup boosted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $161.00.

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.

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