Fulton Breakefield Broenniman LLC Acquires 1,746 Shares of Apollo Global Management Inc. (NYSE:APO)

Fulton Breakefield Broenniman LLC raised its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,541 shares of the financial services provider's stock after buying an additional 1,746 shares during the quarter. Apollo Global Management accounts for about 1.3% of Fulton Breakefield Broenniman LLC's portfolio, making the stock its 24th largest position. Fulton Breakefield Broenniman LLC's holdings in Apollo Global Management were worth $17,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in APO. Geode Capital Management LLC lifted its stake in Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after buying an additional 3,695,979 shares during the period. Vanguard Group Inc. lifted its stake in Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after buying an additional 3,691,700 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after buying an additional 1,886,146 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the period. Finally, Northern Trust Corp raised its position in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Down 0.7%

Shares of NYSE:APO traded down $1.00 during mid-day trading on Friday, reaching $147.21. 1,474,527 shares of the stock were exchanged, compared to its average volume of 3,955,975. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market cap of $84.13 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.61 and a beta of 1.59. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49. The stock's 50 day simple moving average is $137.02 and its 200-day simple moving average is $143.85.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm's revenue for the quarter was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 earnings per share. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.39%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.

Analyst Ratings Changes

APO has been the topic of a number of research analyst reports. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Wells Fargo & Company raised their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday. Evercore ISI raised their price target on Apollo Global Management from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday. Morgan Stanley dropped their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $161.00.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 directly owned 373,164 shares in the company, valued at $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is currently 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.