Marble Wealth LLC Purchases Shares of 15,653 Apollo Global Management Inc. $APO

Key Points

• Marble Wealth LLC initiated a new position in Apollo Global Management, buying 15,653 shares worth about $2.27 million in the fourth quarter.
• Apollo reported Q1 earnings of $1.94 per share, beating analyst estimates, though revenue came in below expectations at $5.06 billion and was down 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, bringing the annualized payout to $2.25 and a yield of about 1.7%.

Marble Wealth LLC purchased a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,653 shares of the financial services provider's stock, valued at approximately $2,266,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its holdings in shares of Apollo Global Management by 99.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at about $29,000. Physician Wealth Advisors Inc. raised its holdings in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after buying an additional 96 shares in the last quarter. City Holding Co. raised its holdings in shares of Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after buying an additional 243 shares in the last quarter. Finally, Center for Financial Planning Inc. purchased a new position in shares of Apollo Global Management during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO stock opened at $128.65 on Wednesday. The firm has a market cap of $74.17 billion, a P/E ratio of 81.94, a P/E/G ratio of 1.10 and a beta of 1.50. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The business's 50 day moving average price is $121.48 and its 200-day moving average price is $127.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business's quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's dividend payout ratio is 143.31%.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APO. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Wall Street Zen cut Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. decreased their price target on Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 10th. The Goldman Sachs Group decreased their price target on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Finally, BMO Capital Markets decreased their price target on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $151.23.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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