Davidson Investment Advisors Makes New Investment in Apollo Global Management Inc. (NYSE:APO)

Davidson Investment Advisors bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,232 shares of the financial services provider's stock, valued at approximately $443,000.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in shares of 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 worth $2,604,000 after purchasing an additional 103 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $680,000. Vestmark Advisory Solutions Inc. grew its stake in Apollo Global Management by 6.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,906 shares of the financial services provider's stock worth $480,000 after purchasing an additional 183 shares during the period. Callan Family Office LLC purchased a new stake in Apollo Global Management in the fourth quarter worth $271,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $253,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

NYSE:APO traded down $2.81 during trading hours on Monday, reaching $141.66. The stock had a trading volume of 2,104,157 shares, compared to its average volume of 3,931,092. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. Apollo Global Management Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a 50 day moving average price of $136.13 and a two-hundred day moving average price of $144.60. The stock has a market capitalization of $80.96 billion, a PE ratio of 24.81, a PEG ratio of 1.50 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data 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 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.44%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's payout ratio is presently 35.73%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APO. Morgan Stanley dropped their price objective on 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. Citigroup dropped their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. TD Cowen dropped their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America raised their target price 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, Wells Fargo & Company raised their target price on Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and an average target price 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 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 $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 available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

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.