Apollo Global Management Inc. (NYSE:APO) Shares Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 412,382 shares of the financial services provider's stock after acquiring an additional 89,778 shares during the quarter. Apollo Global Management accounts for 2.7% of Cornerstone Investment Partners LLC's investment portfolio, making the stock its 21st largest position. Cornerstone Investment Partners LLC owned 0.07% of Apollo Global Management worth $56,472,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management during the 4th quarter worth approximately $25,000. ORG Partners LLC increased its stake in 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 buying an additional 171 shares during the period. Hopwood Financial Services Inc. purchased a new stake in Apollo Global Management during the 4th quarter worth approximately $33,000. Farmers & Merchants Investments Inc. purchased a new stake in Apollo Global Management during the 1st quarter worth approximately $39,000. Finally, Colonial Trust Co SC increased its stake 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. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 373,164 shares of the company's stock, valued at $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of NYSE APO traded down $1.06 during trading hours on Friday, reaching $147.16. The stock had a trading volume of 904,806 shares, compared to its average volume of 3,723,323. The firm has a market cap of $84.10 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.52 and a beta of 1.59. 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 Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The firm has a 50-day moving average of $136.78 and a 200-day moving average of $144.25.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

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

Analysts Set New Price Targets

APO has been the topic of several recent research reports. UBS Group cut their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Piper Sandler cut their target price 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. Barclays increased their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James Financial assumed coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective on the stock. Finally, Evercore ISI increased their price objective on shares of Apollo Global Management from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday. One 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.