Nuveen LLC Makes New Investment in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Nuveen LLC has acquired a significant stake of approximately $342.34 million in Apollo Global Management, obtaining 2,499,893 shares during the first quarter.
• Apollo Global Management's stock is currently rated as a "Moderate Buy" with an average target price of $161.26, based on recent evaluations from various analysts.
• The company recently declared a quarterly dividend of $0.51 per share, translating to an annualized dividend of $2.04 at a yield of 1.4%.

Nuveen LLC purchased a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,499,893 shares of the financial services provider's stock, valued at approximately $342,335,000. Nuveen LLC owned approximately 0.44% of Apollo Global Management at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ellevest Inc. boosted its position in shares of Apollo Global Management by 1.5% during the 4th 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 in the last quarter. Vivaldi Capital Management LP boosted its position in shares of Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after acquiring an additional 71 shares in the last quarter. Y.D. More Investments Ltd boosted its position in shares of Apollo Global Management by 14.4% during the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock valued at $85,000 after acquiring an additional 78 shares in the last quarter. Colonial Trust Co SC boosted its position 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 buying an additional 79 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC boosted its position in Apollo Global Management by 3.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock valued at $345,000 after buying an additional 80 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 1.8%

Shares of APO traded up $2.51 on Tuesday, reaching $144.63. 2,913,189 shares of the company's stock were exchanged, compared to its average volume of 3,064,792. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $82.66 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. The business has a 50 day moving average price of $142.32 and a two-hundred day moving average price of $141.02. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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 business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $1.64 earnings per share. Research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's payout ratio is 38.13%.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Barclays boosted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, UBS Group dropped their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and an average target price of $161.26.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

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.