Gabelli Funds LLC Buys 11,320 Shares of Apollo Global Management Inc. $APO

Key Points

• Gabelli Funds LLC increased its stake in Apollo Global Management by 32.9% in the first quarter, acquiring an additional 11,320 shares to reach a total of 45,707 shares valued at approximately $6.26 million.
• Apollo Global Management reported a quarterly EPS of $1.92, exceeding analysts' expectations of $1.84, with a net margin of 13.25% and revenue of $6.55 billion.
• The company declared a quarterly dividend of $0.51 per share, representing an annualized yield of 1.5%, with 77.06% of the stock held by institutional investors.

Gabelli Funds LLC boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 32.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,707 shares of the financial services provider's stock after purchasing an additional 11,320 shares during the quarter. Gabelli Funds LLC's holdings in Apollo Global Management were worth $6,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APO. Ellevest Inc. raised its position in shares of Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after buying an additional 67 shares during the last quarter. Vivaldi Capital Management LP increased its holdings in Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after acquiring an additional 71 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in Apollo Global Management by 14.4% in the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock valued at $85,000 after acquiring an additional 78 shares during the last quarter. Colonial Trust Co SC lifted its stake in 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 worth $58,000 after purchasing an additional 79 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC boosted its holdings in shares of Apollo Global Management by 3.3% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 80 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on APO shares. Citigroup boosted their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Piper Sandler lowered their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Barclays boosted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Trading Up 0.1%

Shares of NYSE APO traded up $0.13 during trading hours on Monday, hitting $136.52. 4,975,863 shares of the company traded hands, compared to its average volume of 3,446,188. The company's 50 day moving average price is $143.11 and its 200 day moving average price is $138.29. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a market capitalization of $78.09 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.47 and a beta of 1.69. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

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 company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.64 earnings per share. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. 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 dividend payout ratio is presently 38.13%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction that occurred on 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 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. Corporate insiders own 8.50% of the company's stock.

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.