Focus Partners Wealth Purchases 3,726 Shares of Apollo Global Management Inc. $APO

Key Points

• Focus Partners Wealth increased its stake in Apollo Global Management Inc. by 8.5%, acquiring an additional 3,726 shares, bringing its total holdings to 47,357 shares worth $6.48 million.
• Insider Whitney Chatterjee sold 4,500 shares for approximately $657,135, while Leon D. Black sold 915,000 shares valued at $122.6 million, reflecting a substantial decrease in their ownership.
• Apollo Global Management reported a quarterly earnings per share of $1.92, exceeding analysts' expectations, and announced a quarterly dividend of $0.51, yielding 1.5% annually.

Focus Partners Wealth boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,357 shares of the financial services provider's stock after acquiring an additional 3,726 shares during the period. Focus Partners Wealth's holdings in Apollo Global Management were worth $6,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of APO. Principal Financial Group Inc. raised its stake in Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after buying an additional 7,441 shares in the last quarter. Clearview Wealth Advisors LLC increased its position in Apollo Global Management by 420.7% during the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after buying an additional 17,418 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Apollo Global Management by 209.0% in the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after purchasing an additional 110,014 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Apollo Global Management in the 1st quarter valued at $871,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Apollo Global Management in the first quarter valued at about $492,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider directly owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 935,000 shares of company stock worth $125,543,790. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Trading Up 1.2%

Shares of NYSE:APO opened at $138.10 on Friday. The firm has a market capitalization of $79.00 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.69. The business's 50 day moving average price is $141.88 and its 200-day moving average price is $137.00. 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 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business posted $1.64 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

Analysts Set New Price Targets

A number of research firms have issued reports on APO. Wells Fargo & Company raised their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Citigroup upped their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Barclays lifted 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. Finally, Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.56.

About Apollo Global Management

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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