RMR Wealth Builders Buys Shares of 1,997 Apollo Global Management, Inc. (NYSE:APO)

RMR Wealth Builders purchased a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,997 shares of the financial services provider's stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after acquiring an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after acquiring an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Apollo Global Management stock traded down $5.95 on Friday, hitting $132.16. The company's stock had a trading volume of 4,237,940 shares, compared to its average volume of 3,949,535. The firm has a market cap of $75.53 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $132.32 and a 200-day moving average price of $148.57. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same period last year, the firm earned $1.72 EPS. The company's quarterly revenue was down 21.2% compared to the same quarter last year. On average, equities analysts anticipate 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 issued a $0.51 dividend. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. Apollo Global Management's dividend payout ratio is presently 35.73%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APO. Piper Sandler reduced their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. TD Cowen reduced 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 note on Wednesday, April 9th. Morgan Stanley reduced their price objective 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. Barclays upped their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Citigroup reduced their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.