DAVENPORT & Co LLC Purchases 18,073 Shares of Apollo Global Management Inc. (NYSE:APO)

DAVENPORT & Co LLC grew its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 97.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,695 shares of the financial services provider's stock after acquiring an additional 18,073 shares during the quarter. DAVENPORT & Co LLC's holdings in Apollo Global Management were worth $5,025,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APO. Amundi lifted its position in shares of Apollo Global Management by 13.2% during the 4th quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after buying an additional 93,451 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of 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 period. Coordinated Financial Services Inc. bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $473,000. Blue Whale Capital LLP bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $47,400,000. Finally, Clearview Wealth Advisors LLC lifted its position in shares of Apollo Global Management by 420.7% during the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after buying an additional 17,418 shares during the period. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Piper Sandler cut their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Raymond James Financial assumed coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price for the company. TD Cowen lowered their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Citigroup lowered their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their target price on Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.00.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Trading Down 1.9%

APO stock traded down $2.81 during midday trading on Monday, hitting $141.66. 2,104,157 shares of the company's stock were exchanged, compared to its average volume of 3,931,093. The stock's fifty day moving average price is $136.23 and its 200-day moving average price is $144.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $80.96 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.50 and a beta of 1.59. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its 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 business 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 was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced 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. The ex-dividend date was Friday, May 16th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.44%. Apollo Global Management's payout ratio is currently 35.73%.

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.