Phoenix Financial Ltd. Purchases New Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Phoenix Financial Ltd. invested approximately $4.03 million in Apollo Global Management, acquiring 29,422 shares during the first quarter.
• Apollo Global Management has seen significant increases in stakes from various institutional investors, with Geode Capital Management LLC raising its stake by 64.6% in the fourth quarter.
• The company recently announced a quarterly dividend of $0.51 per share, an increase from the previous $0.46, representing an annualized yield of 1.35%.

Phoenix Financial Ltd. acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,422 shares of the financial services provider's stock, valued at approximately $4,029,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ellevest Inc. grew its position in Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 67 shares in the last quarter. Vivaldi Capital Management LP grew its position in Apollo Global Management by 2.1% in the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after purchasing an additional 71 shares in the last quarter. Colonial Trust Co SC grew 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 purchasing an additional 79 shares in the last quarter. GW&K Investment Management LLC grew its position 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 purchasing an additional 87 shares in the last quarter. Finally, CVA Family Office LLC grew its position in Apollo Global Management by 19.7% in the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 88 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APO has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Raymond James Financial initiated coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup lifted 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 report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and an average target price of $161.00.

Apollo Global Management Stock Performance

Apollo Global Management stock traded down $0.77 during midday trading on Wednesday, hitting $147.05. The company's stock had a trading volume of 556,318 shares, compared to its average volume of 3,603,269. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. The company has a 50-day moving average price of $139.90 and a two-hundred day moving average price of $142.59. The company has a market cap of $84.04 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.67 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last issued 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). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same quarter last year, the firm earned $1.72 EPS. Apollo Global Management's revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, sell-side analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given 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 1.39%. Apollo Global Management's payout ratio is presently 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 that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.50% of the company's stock.

Apollo Global Management 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.