Conning Inc. Buys New Position in Apollo Global Management Inc. (NYSE:APO)

Conning Inc. bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,770 shares of the financial services provider's stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Fisher Asset Management LLC raised its stake in Apollo Global Management by 9.8% in the fourth quarter. Fisher Asset Management LLC now owns 1,889 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 168 shares in the last quarter. Jones Financial Companies Lllp grew its position in Apollo Global Management by 177.3% during the fourth quarter. Jones Financial Companies Lllp now owns 9,169 shares of the financial services provider's stock valued at $1,514,000 after acquiring an additional 5,863 shares during the last quarter. Assetmark Inc. grew its position in Apollo Global Management by 0.9% during the fourth quarter. Assetmark Inc. now owns 105,627 shares of the financial services provider's stock valued at $17,445,000 after acquiring an additional 897 shares during the last quarter. M&T Bank Corp grew its position in Apollo Global Management by 0.7% during the fourth quarter. M&T Bank Corp now owns 15,771 shares of the financial services provider's stock valued at $2,604,000 after acquiring an additional 103 shares during the last quarter. Finally, Dana Investment Advisors Inc. bought a new position in Apollo Global Management during the fourth quarter valued at approximately $680,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares of the company's stock, valued at $49,470,351.48. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APO. Piper Sandler reduced 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 report on Monday, May 5th. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Barclays increased their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Stock Performance

NYSE:APO opened at $144.73 on Friday. The stock has a market cap of $82.71 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.59. The firm's fifty day simple moving average is $136.13 and its 200 day simple moving average is $144.93. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. 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 (NYSE:APO - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business's revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 EPS. As a group, research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.41%. 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. Apollo Global Management's payout ratio is 35.73%.

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.

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