Eagle Rock Investment Company LLC Has $4.73 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Eagle Rock Investment Company LLC lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,552 shares of the financial services provider's stock after purchasing an additional 12,475 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Apollo Global Management were worth $4,732,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Procyon Advisors LLC raised its position in Apollo Global Management by 0.9% in the first quarter. Procyon Advisors LLC now owns 32,873 shares of the financial services provider's stock valued at $4,502,000 after purchasing an additional 309 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Apollo Global Management by 26.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,413 shares of the financial services provider's stock worth $741,000 after purchasing an additional 1,149 shares in the last quarter. RFG Advisory LLC bought a new stake in Apollo Global Management in the first quarter worth approximately $2,087,000. Fulton Bank N.A. increased its holdings in Apollo Global Management by 61.4% in the first quarter. Fulton Bank N.A. now owns 5,806 shares of the financial services provider's stock worth $795,000 after purchasing an additional 2,209 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in Apollo Global Management by 7.4% in the first quarter. Harbor Investment Advisory LLC now owns 17,167 shares of the financial services provider's stock valued at $2,351,000 after acquiring an additional 1,180 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group reduced their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Cowen restated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. TD Cowen reduced their price objective 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. Wells Fargo & Company increased their price target on Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, Citigroup cut their price target 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. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Stock Performance

NYSE:APO opened at $133.45 on Friday. The stock has a market cap of $76.27 billion, a P/E ratio of 18.26, a PEG ratio of 1.17 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The business's 50-day moving average price is $130.66 and its two-hundred day moving average price is $149.90.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data 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). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same period in the prior year, the business posted $1.72 earnings per share. The business's quarterly revenue was down 21.2% on a year-over-year basis. As a group, equities analysts predict that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.53%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Insider Buying and Selling

In other news, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate 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.

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