Cornerstone Investment Partners LLC Has $56.47 Million Holdings in Apollo Global Management Inc. (NYSE:APO)

Cornerstone Investment Partners LLC raised its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 27.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,382 shares of the financial services provider's stock after purchasing an additional 89,778 shares during the quarter. Apollo Global Management makes up approximately 2.7% of Cornerstone Investment Partners LLC's holdings, making the stock its 21st biggest position. Cornerstone Investment Partners LLC owned about 0.07% of Apollo Global Management worth $56,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $25,000. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $33,000. ORG Partners LLC boosted its stake in shares of Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management during the 1st quarter worth about $39,000. Finally, Colonial Trust Co SC boosted its stake in shares of 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 acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value 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 approximately $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Apollo Global Management stock traded down $1.00 during trading hours on Friday, hitting $147.21. The stock had a trading volume of 1,474,527 shares, compared to its average volume of 3,955,975. The company has a 50-day moving average of $137.02 and a two-hundred day moving average of $143.64. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market cap of $84.13 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

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

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.39%. Apollo Global Management's dividend payout ratio is 35.73%.

Analysts Set New Price Targets

APO has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Barclays boosted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday. Evercore ISI boosted their price objective on Apollo Global Management from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday. Bank of America boosted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Finally, Raymond James Financial initiated coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective for the company. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.00.

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.