Cerity Partners LLC Acquires 13,282 Shares of Apollo Global Management Inc. (NYSE:APO)

Cerity Partners LLC increased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 6.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 214,197 shares of the financial services provider's stock after acquiring an additional 13,282 shares during the period. Cerity Partners LLC's holdings in Apollo Global Management were worth $29,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ellevest Inc. lifted its holdings in Apollo Global Management by 1.5% during the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock worth $735,000 after buying an additional 67 shares during the period. Vivaldi Capital Management LP lifted its holdings in Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock worth $566,000 after buying an additional 71 shares during the period. Colonial Trust Co SC lifted its holdings in Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after buying an additional 79 shares during the period. CVA Family Office LLC lifted its holdings in Apollo Global Management by 19.7% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock worth $73,000 after buying an additional 88 shares during the period. Finally, World Investment Advisors lifted its holdings in Apollo Global Management by 1.3% during the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider's stock worth $971,000 after buying an additional 93 shares during the period. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Up 0.4%

Apollo Global Management stock traded up $0.54 during midday trading on Monday, reaching $147.72. The stock had a trading volume of 334,111 shares, compared to its average volume of 3,701,253. 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 capitalization of $84.42 billion, a P/E ratio of 25.87, a PEG ratio of 1.61 and a beta of 1.59. The company has a fifty day moving average price of $137.02 and a two-hundred day moving average price of $143.64. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34.

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

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.51 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's payout ratio is currently 35.73%.

Analysts Set New Price Targets

Several research analysts have commented on APO shares. Morgan Stanley cut their target price on 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. Bank of America boosted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Wells Fargo & Company boosted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday. Piper Sandler dropped their price objective on 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. 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 note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $161.00.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer directly owned 373,164 shares of the company's stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Company 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.