Sowell Financial Services LLC acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,362 shares of the financial services provider's stock, valued at approximately $871,000.
Other hedge funds have also modified their holdings of the company. Ellevest Inc. increased its stake 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 worth $735,000 after purchasing an additional 67 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Apollo Global Management by 2.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock worth $447,000 after buying an additional 71 shares in the last quarter. Vivaldi Capital Management LP grew 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 worth $566,000 after buying an additional 71 shares in the last quarter. Tower Wealth Partners Inc. grew its position in shares of Apollo Global Management by 4.4% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock worth $288,000 after buying an additional 74 shares in the last quarter. Finally, Colonial Trust Co SC grew its position in shares of Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after buying an additional 79 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on APO. UBS Group dropped their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. TD Cowen dropped their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley dropped their price objective on 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. Piper Sandler dropped their price objective on 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, Raymond James Financial started coverage on Apollo Global Management in a research note on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.
View Our Latest Analysis on Apollo Global Management
Apollo Global Management Stock Performance
NYSE:APO traded up $1.52 during trading hours on Friday, reaching $134.61. The company had a trading volume of 4,569,497 shares, compared to its average volume of 3,959,296. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The business's 50 day moving average price is $133.14 and its 200-day moving average price is $147.62. The firm has a market cap of $76.93 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.59.
Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS 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 company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. During the same quarter in the prior year, the company posted $1.72 EPS. The company's revenue for the quarter was down 21.2% on a year-over-year basis. Research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.
Apollo Global Management Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, May 16th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is currently 35.73%.
About Apollo Global Management
(
Free Report)
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.
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