Sowell Financial Services LLC Takes Position in Apollo Global Management Inc. (NYSE:APO)

Sowell Financial Services LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,362 shares of the financial services provider's stock, valued at approximately $871,000.

Several other large investors also recently modified their holdings of the stock. Cyndeo Wealth Partners LLC grew its stake in shares of Apollo Global Management by 10.3% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 2,968 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 278 shares during the period. Howard Bailey Securities LLC bought a new stake in Apollo Global Management in the first quarter valued at $203,000. Factory Mutual Insurance Co. grew its position in Apollo Global Management by 124.1% in the first quarter. Factory Mutual Insurance Co. now owns 158,200 shares of the financial services provider's stock valued at $21,664,000 after acquiring an additional 87,600 shares during the period. Ritholtz Wealth Management grew its position in Apollo Global Management by 95.5% in the first quarter. Ritholtz Wealth Management now owns 2,709 shares of the financial services provider's stock valued at $371,000 after acquiring an additional 1,323 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Apollo Global Management by 19.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,615 shares of the financial services provider's stock worth $495,000 after purchasing an additional 598 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APO has been the topic of several analyst reports. UBS Group lowered their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Citigroup decreased their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Barclays increased their price target on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the firm'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 transaction, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.20% of the stock is owned by corporate insiders.

Apollo Global Management Trading Up 1.1%

Apollo Global Management stock traded up $1.52 during mid-day trading on Friday, hitting $134.61. The stock had a trading volume of 4,569,497 shares, compared to its average volume of 3,960,023. The stock has a market capitalization of $76.93 billion, a PE ratio of 23.57, a P/E/G ratio of 1.39 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a 50-day simple moving average of $133.31 and a two-hundred day simple moving average of $147.16.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its 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 14.59% and a return on equity of 13.45%. 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 business posted $1.72 EPS. The firm's revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.52%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

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.