Inscription Capital LLC Makes New $422,000 Investment in Apollo Global Management Inc. (NYSE:APO)

Inscription Capital LLC bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,084 shares of the financial services provider's stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in Apollo Global Management by 8.0% during the 1st quarter. QRG Capital Management Inc. now owns 31,131 shares of the financial services provider's stock valued at $4,263,000 after purchasing an additional 2,307 shares during the period. Sagespring Wealth Partners LLC lifted its stake in shares of Apollo Global Management by 21.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 2,516 shares of the financial services provider's stock worth $345,000 after acquiring an additional 448 shares during the period. Great Lakes Retirement Inc. lifted its stake in shares of Apollo Global Management by 9.0% in the 1st quarter. Great Lakes Retirement Inc. now owns 9,605 shares of the financial services provider's stock worth $1,315,000 after acquiring an additional 791 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Apollo Global Management in the 1st quarter worth approximately $871,000. Finally, Cyndeo Wealth Partners LLC lifted its stake in shares of Apollo Global Management by 10.3% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 2,968 shares of the financial services provider's stock worth $406,000 after acquiring an additional 278 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Up 1.1%

Shares of APO stock traded up $1.52 during trading hours on Friday, reaching $134.61. 4,569,497 shares of the stock traded hands, compared to its average volume of 3,960,023. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The business has a fifty day moving average price of $133.31 and a 200 day moving average price of $147.16. 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 firm has a market capitalization of $76.93 billion, a PE ratio of 23.57, a PEG ratio of 1.39 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results 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). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same quarter in the prior year, the firm earned $1.72 EPS. The firm's revenue was down 21.2% compared to the same quarter last year. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's payout ratio is currently 35.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler reduced 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 note on Monday, May 5th. UBS Group reduced their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Bank of America upped their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $159.00.

Insider Buying and Selling at Apollo Global Management

In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% 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.