Golden State Wealth Management LLC Raises Stock Holdings in Apollo Global Management Inc. (NYSE:APO)

Golden State Wealth Management LLC increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 141.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,714 shares of the financial services provider's stock after buying an additional 8,043 shares during the quarter. Golden State Wealth Management LLC's holdings in Apollo Global Management were worth $1,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after buying an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Apollo Global Management by 36.9% in the 4th 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 buying an additional 1,739,807 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction 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 transaction, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays boosted their price objective on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. TD Cowen cut their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Bank of America raised their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Finally, Piper Sandler reduced their target price on shares of 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $159.00.

Apollo Global Management Price Performance

NYSE:APO traded up $1.75 during midday trading on Thursday, hitting $139.48. The company had a trading volume of 2,441,004 shares, compared to its average volume of 3,959,296. The company has a market capitalization of $79.71 billion, a PE ratio of 24.43, a P/E/G ratio of 1.42 and a beta of 1.59. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The stock's fifty day moving average price is $133.97 and its 200-day moving average price is $146.55.

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

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's payout ratio is presently 35.73%.

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.