Elevation Point Wealth Partners LLC Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

Elevation Point Wealth Partners LLC bought a new stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,590 shares of the financial services provider's stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in APO. Fourth Dimension Wealth LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth $25,000. Hopwood Financial Services Inc. bought a new position in Apollo Global Management during the fourth quarter worth about $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth about $34,000. HM Payson & Co. acquired a new position in shares of Apollo Global Management during the 4th quarter worth about $45,000. Finally, Colonial Trust Co SC increased its stake in shares of Apollo Global Management by 29.2% in the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling

In related news, insider Lb 2018 Gst Trust bought 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Apollo Global Management Stock Up 1.5%

APO traded up $1.93 during trading on Monday, reaching $134.04. 2,168,708 shares of the stock were exchanged, compared to its average volume of 3,942,410. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock's 50 day moving average price is $132.32 and its two-hundred day moving average price is $148.39. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The stock has a market cap of $76.60 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results 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). 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 during the quarter, compared to the consensus estimate of $977.14 million. During the same period in the previous year, the company posted $1.72 earnings per share. The firm's revenue for the quarter was down 21.2% compared to the same quarter last year. Equities analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.51 per share. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's payout ratio is currently 35.73%.

Analysts Set New Price Targets

Several research analysts recently weighed in on APO shares. Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Wells Fargo & Company raised their price objective 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. Piper Sandler decreased their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, TD Cowen dropped 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 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.

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.