Eagle Rock Investment Company LLC Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Eagle Rock Investment Company LLC increased its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 56.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,552 shares of the financial services provider's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at $25,000. Hopwood Financial Services Inc. purchased a new stake in Apollo Global Management during the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at $34,000. Byrne Asset Management LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at $37,000. Finally, HM Payson & Co. purchased a new stake in Apollo Global Management during the 4th quarter valued at $45,000. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Citigroup reduced their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler reduced their target price on 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. TD Cowen reduced their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group reduced their target price on 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has an average rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Stock Performance

Shares of NYSE APO traded up $2.31 during trading on Tuesday, hitting $135.82. The company had a trading volume of 3,132,446 shares, compared to its average volume of 3,929,528. The stock has a 50 day simple moving average of $130.76 and a 200 day simple moving average of $149.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The firm has a market capitalization of $77.62 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same period last year, the business earned $1.72 EPS. The firm's quarterly revenue was down 21.2% compared to the same quarter last year. As a group, analysts anticipate that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.50%. The ex-dividend date was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

Insider Activity at Apollo Global Management

In related news, insider Lb 2018 Gst Trust bought 607,725 shares of the company's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management 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 of the company's stock, valued at approximately $4,913,877,766. This trade represents a 1.42% 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 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.