Goldman Sachs Group Inc. raised its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,581,732 shares of the financial services provider's stock after purchasing an additional 706,181 shares during the quarter. Goldman Sachs Group Inc. owned 0.63% of Apollo Global Management worth $490,482,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in APO. Price T Rowe Associates Inc. MD boosted its position in Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after buying an additional 1,739,807 shares during the last quarter. Northern Trust Corp lifted its stake in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after acquiring an additional 1,460,689 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Apollo Global Management by 71.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock valued at $429,405,000 after acquiring an additional 1,082,825 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Apollo Global Management by 3,257.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,067,659 shares of the financial services provider's stock worth $176,335,000 after acquiring an additional 1,035,856 shares during the period. Finally, Palestra Capital Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $117,669,000. Hedge funds and other institutional investors own 77.06% of the company's stock.
Apollo Global Management Stock Performance
NYSE APO opened at $141.37 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.36. The stock's 50 day simple moving average is $141.59 and its 200-day simple moving average is $141.78. The company has a market cap of $80.79 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.62. Apollo Global Management Inc. has a 1-year low of $102.14 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 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.23% and a net margin of 13.25%. The firm had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $1.64 EPS. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.
Apollo Global Management Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on APO shares. Citigroup boosted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company raised their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Raymond James Financial initiated coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target for the company. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Barclays boosted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.26.
Check Out Our Latest Research Report on APO
Insider Buying and Selling at Apollo Global Management
In related news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated 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 approximately $12,148,527.76. This represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company's stock.
About Apollo Global Management
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Free Report)
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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