Johnson Investment Counsel Inc. Acquires New Stake in Apollo Global Management Inc. (NYSE:APO)

Johnson Investment Counsel Inc. acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 154,561 shares of the financial services provider's stock, valued at approximately $21,166,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in shares of Apollo Global Management by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 52,370 shares of the financial services provider's stock worth $7,171,000 after purchasing an additional 1,405 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Apollo Global Management by 13.4% in the first quarter. CWA Asset Management Group LLC now owns 3,987 shares of the financial services provider's stock valued at $546,000 after purchasing an additional 472 shares in the last quarter. Marino Stram & Associates LLC lifted its holdings in shares of Apollo Global Management by 23.1% in the first quarter. Marino Stram & Associates LLC now owns 1,558 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 292 shares in the last quarter. Shepherd Financial Partners LLC raised its holdings in Apollo Global Management by 21.4% during the first quarter. Shepherd Financial Partners LLC now owns 5,454 shares of the financial services provider's stock worth $747,000 after acquiring an additional 962 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in Apollo Global Management by 6.8% during the first quarter. Insigneo Advisory Services LLC now owns 4,266 shares of the financial services provider's stock worth $584,000 after acquiring an additional 270 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

In related news, insider Lb 2018 Gst Trust purchased 607,725 shares of the business's stock in a transaction on Friday, April 4th. The stock was acquired 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 of the company's stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

APO has been the topic of several research analyst reports. Barclays upped their price objective on Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Piper Sandler reduced their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company increased their price target on Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Citigroup reduced their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Trading Up 1.1%

NYSE:APO traded up $1.52 during trading hours on Friday, hitting $134.61. 4,569,497 shares of the company were exchanged, compared to its average volume of 3,960,023. The company has a fifty day simple moving average of $133.31 and a 200 day simple moving average of $147.16. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $76.93 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.59.

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 for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same period last year, the business posted $1.72 earnings per share. The business's revenue was down 21.2% on a year-over-year basis. Sell-side analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.52%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date 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.