Castleark Management LLC Makes New $37.47 Million Investment in Apollo Global Management, Inc. (NYSE:APO)

Castleark Management LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 226,890 shares of the financial services provider's stock, valued at approximately $37,473,000. Apollo Global Management comprises about 1.3% of Castleark Management LLC's portfolio, making the stock its 18th largest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Vanguard Group Inc. lifted its position in Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after buying an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 acquiring an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Down 2.4%

APO stock opened at $139.19 on Wednesday. The firm has a market cap of $79.41 billion, a PE ratio of 19.04, a P/E/G ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a 50 day simple moving average of $133.29 and a 200 day simple moving average of $152.49.

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 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 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. During the same period in the prior year, the business posted $1.72 EPS. The company's revenue for the quarter was down 21.2% compared to the same quarter last year. Equities research analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.47%. Apollo Global Management's dividend payout ratio is currently 35.73%.

Insider Buying and Selling

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

APO has been the subject of a number of research reports. Raymond James began coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 target price for the company. Piper Sandler decreased their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. TD Cowen dropped their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. UBS Group cut 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 report on Thursday, May 1st. Finally, Barclays upped their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $157.89.

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.

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