Spinnaker Trust Makes New Investment in Apollo Global Management Inc. (NYSE:APO)

Spinnaker Trust acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,924 shares of the financial services provider's stock, valued at approximately $2,455,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fourth Dimension Wealth LLC bought a new stake in Apollo Global Management in the fourth quarter valued at about $25,000. ORG Partners LLC increased its position in shares of Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Apollo Global Management during the 4th quarter worth $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management during the fourth quarter worth about $34,000. Finally, Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management in the first quarter worth about $39,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of APO traded up $0.57 during trading hours on Wednesday, hitting $142.20. The stock had a trading volume of 1,044,296 shares, compared to its average volume of 3,920,570. The stock has a fifty day moving average price of $135.35 and a 200 day moving average price of $145.40. 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 firm has a market capitalization of $81.26 billion, a PE ratio of 24.88, a PEG ratio of 1.46 and a beta of 1.59. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced 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). The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm's revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 earnings per share. Analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business 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 represents a $2.04 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's payout ratio is 35.73%.

Analyst Ratings Changes

Several research analysts have recently weighed in on APO shares. Barclays upped their price objective 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. Bank of America upped their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Morgan Stanley reduced their price target on 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. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, UBS Group reduced their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.

Insider Buying and Selling at Apollo Global Management

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider owned 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the business'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 sale, the chief financial officer directly owned 373,164 shares in the company, valued at $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. Company insiders own 8.50% of the company's stock.

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.