Apollo Global Management Inc. $APO Shares Acquired by Horizon Investments LLC

Key Points

• Horizon Investments LLC increased its stake in Apollo Global Management Inc. by 55.9% during the first quarter, acquiring 18,851 shares worth approximately $2.58 million.
• Apollo Global Management recently reported $1.92 EPS for the last quarter, exceeding analysts' expectations of $1.84, alongside a revenue of $6.55 billion.
• The company declared a quarterly dividend of $0.51 per share, resulting in an annualized dividend of $2.04 and a yield of 1.5%.

Horizon Investments LLC lifted its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 55.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,851 shares of the financial services provider's stock after buying an additional 6,757 shares during the period. Horizon Investments LLC's holdings in Apollo Global Management were worth $2,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Kovitz Investment Group Partners LLC increased its holdings in shares of Apollo Global Management by 10.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 1,174,713 shares of the financial services provider's stock worth $160,865,000 after buying an additional 107,054 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of Apollo Global Management by 126.6% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 6,586 shares of the financial services provider's stock worth $902,000 after buying an additional 3,680 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Apollo Global Management during the 1st quarter worth $745,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Apollo Global Management by 3.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,615 shares of the financial services provider's stock worth $10,629,000 after buying an additional 2,700 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of Apollo Global Management during the 1st quarter worth $370,543,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APO has been the subject of a number of research analyst reports. UBS Group dropped their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday. Citigroup upped their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Piper Sandler decreased their price target 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 equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average target price of $161.26.

Apollo Global Management Stock Down 1.6%

NYSE:APO traded down $2.2380 on Tuesday, reaching $137.1520. The stock had a trading volume of 2,927,876 shares, compared to its average volume of 3,612,153. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $142.98 and a 200 day moving average of $139.98. The stock has a market cap of $78.46 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month 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, beating analysts' consensus estimates of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the company posted $1.64 EPS. On average, research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is 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 dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.

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.