Robbins Farley Invests $3.32 Million in Apollo Global Management, Inc. (NYSE:APO)

Robbins Farley bought a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,246 shares of the financial services provider's stock, valued at approximately $3,320,000. Apollo Global Management accounts for 1.8% of Robbins Farley's investment portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the 1st quarter worth about $39,000. CVA Family Office LLC increased its holdings in shares of Apollo Global Management by 19.7% during the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock worth $73,000 after purchasing an additional 88 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Apollo Global Management during the first quarter worth approximately $492,000. Bensler LLC bought a new position in Apollo Global Management in the first quarter valued at approximately $2,581,000. Finally, Smithbridge Asset Management Inc. DE bought a new position in Apollo Global Management in the first quarter valued at approximately $13,896,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 4.3%

NYSE APO traded down $5.95 during mid-day trading on Friday, reaching $132.16. 4,237,940 shares of the stock were exchanged, compared to its average volume of 3,942,026. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a 50 day simple moving average of $132.32 and a 200-day simple moving average of $148.74. The stock has a market cap of $75.53 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

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 earnings per share 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 company 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 posted $1.72 earnings per share. The company's revenue for the quarter was down 21.2% on a year-over-year basis. On average, analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.51 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, May 16th. Apollo Global Management's payout ratio is 35.73%.

Analysts Set New Price Targets

APO has been the topic of a number of research analyst reports. Raymond James 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 target price on the stock. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Barclays raised their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Piper Sandler cut their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Wells Fargo & Company raised their target price on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $159.00.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer now directly owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.