Dynasty Wealth Management LLC Acquires New Position in Apollo Global Management Inc. (NYSE:APO)

Dynasty Wealth Management LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,055 shares of the financial services provider's stock, valued at approximately $692,000.

A number of other hedge funds also recently made changes to their positions in APO. Geode Capital Management LLC raised its holdings in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Vanguard Group Inc. grew its position in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after acquiring an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 acquiring an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Apollo Global Management by 36.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after buying an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after buying an additional 1,460,689 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on APO shares. Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Evercore ISI increased 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, July 10th. Finally, TD Cowen lowered their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and an average target price of $161.00.

Insider Transactions at Apollo Global Management

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 shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the transaction, the chief financial officer directly owned 373,164 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Stock Down 2.5%

APO stock traded down $3.86 during midday trading on Friday, hitting $152.19. The company's stock had a trading volume of 2,927,816 shares, compared to its average volume of 3,965,801. The company has a market cap of $86.98 billion, a PE ratio of 26.65, a P/E/G ratio of 1.76 and a beta of 1.59. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average is $138.96 and its 200-day moving average is $143.40.

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 for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. Apollo Global Management's quarterly 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. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.51 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 1.34%. Apollo Global Management's dividend payout ratio (DPR) is 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.