Ethic Inc. Raises Stake in Apollo Global Management Inc. $APO

Key Points

• Ethic Inc. increased its stake in Apollo Global Management Inc. by 20%, acquiring an additional 8,638 shares, bringing its total holdings to 51,732 shares worth approximately $7.16 million.
• Several other institutional investors also boosted their positions in Apollo Global Management, with Aberdeen Group plc increasing its stake by over 110%, now holding 408,081 shares valued at around $54.93 million.
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, with an annualized yield of 1.5%, set to be paid on August 29th, following a record date of August 18th.

Ethic Inc. grew its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,732 shares of the financial services provider's stock after buying an additional 8,638 shares during the quarter. Ethic Inc.'s holdings in Apollo Global Management were worth $7,158,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in APO. Fourth Dimension Wealth LLC purchased a new position in shares of Apollo Global Management in the fourth quarter valued at $25,000. GW&K Investment Management LLC increased its position in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management during the first quarter valued at $39,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Apollo Global Management by 118.6% during the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Down 0.9%

NYSE:APO traded down $1.2780 during mid-day trading on Wednesday, reaching $135.8020. The company's stock had a trading volume of 2,287,227 shares, compared to its average volume of 3,603,493. The company's fifty day simple moving average is $143.01 and its two-hundred day simple moving average is $139.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The stock has a market cap of $77.68 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.45 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $1.64 EPS. On average, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APO shares. UBS Group decreased their price objective 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. Barclays increased their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler decreased their price objective 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. Wells Fargo & Company increased their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.28.

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.