Meketa Capital LLC Invests $3.09 Million in Apollo Global Management, Inc. (NYSE:APO)

Meketa Capital LLC acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,732 shares of the financial services provider's stock, valued at approximately $3,094,000. Apollo Global Management comprises about 6.9% of Meketa Capital LLC's portfolio, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ellevest Inc. raised its stake in shares of Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after acquiring an additional 67 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Apollo Global Management by 2.7% in 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. Tower Wealth Partners Inc. raised its stake in 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 in the last quarter. Colonial Trust Co SC raised its stake 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 worth $58,000 after buying an additional 79 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Apollo Global Management by 0.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider's stock worth $1,639,000 after buying an additional 90 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. The trade was a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Up 0.1%

Shares of NYSE:APO traded up $0.16 during trading on Friday, reaching $130.97. 2,339,526 shares of the stock traded hands, compared to its average volume of 3,943,896. The stock has a 50-day moving average of $132.93 and a two-hundred day moving average of $152.16. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $74.71 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter in the previous year, the company earned $1.72 EPS. The company's quarterly revenue was down 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.56%. Apollo Global Management's dividend payout ratio is presently 35.73%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on APO shares. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday. Barclays increased their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Morgan Stanley decreased 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. 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 note on Monday, May 5th. Finally, Bank of America increased 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target 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.