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

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

Several other large investors have also modified their holdings of the stock. Ellevest Inc. lifted its holdings in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock worth $735,000 after buying an additional 67 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Apollo Global Management by 2.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock worth $447,000 after buying an additional 71 shares in the last quarter. Vivaldi Capital Management LP grew its position in shares of Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock worth $566,000 after buying an additional 71 shares in the last quarter. Tower Wealth Partners Inc. increased its stake in shares of Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock worth $288,000 after buying an additional 74 shares during the last quarter. Finally, Colonial Trust Co SC raised its holdings in Apollo Global Management by 29.2% in the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 79 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Up 0.5%

NYSE:APO opened at $133.02 on Thursday. The stock has a market cap of $76.02 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.37 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. 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 of $132.96 and a 200-day moving average of $147.89.

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). The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business's revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 EPS. Equities analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business 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. The ex-dividend date was Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.53%. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on APO shares. Citigroup lowered their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lifted their target price 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. TD Cowen dropped their price target on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Barclays raised their price objective on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Piper Sandler lowered 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 note on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Company 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.

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