Newbrook Capital Advisors LP Acquires 10,396 Shares of Apollo Global Management Inc. $APO

Key Points

• Newbrook Capital Advisors LP increased its stake in Apollo Global Management by 1.7%, acquiring an additional 10,396 shares, making Apollo its second-largest holding.
• Apollo Global Management's EPS of $1.92 exceeded analysts' expectations of $1.84, alongside a revenue that significantly surpassed estimates at $6.55 billion.
• The company recently declared a quarterly dividend of $0.51 per share, resulting in a 1.5% dividend yield with a payout ratio of 38.13%.

Newbrook Capital Advisors LP increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 612,273 shares of the financial services provider's stock after purchasing an additional 10,396 shares during the quarter. Apollo Global Management comprises about 13.2% of Newbrook Capital Advisors LP's portfolio, making the stock its 2nd biggest position. Newbrook Capital Advisors LP owned 0.11% of Apollo Global Management worth $83,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC boosted its stake in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. ORG Partners LLC boosted its stake in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in Apollo Global Management in the first quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. boosted its stake in Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 172 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Apollo Global Management Trading Down 2.4%

Shares of NYSE APO traded down $3.25 during midday trading on Friday, reaching $131.51. 4,520,545 shares of the stock were exchanged, compared to its average volume of 3,101,840. The business has a 50-day simple moving average of $142.65 and a two-hundred day simple moving average of $137.64. The company has a market capitalization of $75.23 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.45 and a beta of 1.69. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period last year, the firm posted $1.64 earnings per share. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Analyst Ratings Changes

APO has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Citigroup raised their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Barclays raised their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $164.56.

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.