Strategy Asset Managers LLC Purchases Shares of 3,607 Apollo Global Management Inc. (NYSE:APO)

Key Points

• Strategy Asset Managers LLC invested approximately $494,000 in Apollo Global Management, acquiring 3,607 shares during the first quarter.
• Apollo Global Management reported $1.92 EPS for the last quarter, exceeding analysts' expectations of $1.84, with a revenue of $6.55 billion.
• The company announced a quarterly dividend of $0.51 per share, with a dividend yield of 1.4% and a payout ratio of 35.73%.

Strategy Asset Managers LLC purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,607 shares of the financial services provider's stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after acquiring an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock valued at $490,482,000 after acquiring an additional 706,181 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Apollo Global Management by 32.5% in the first quarter. Westwood Holdings Group Inc. now owns 23,247 shares of the financial services provider's stock valued at $3,183,000 after acquiring an additional 5,697 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in Apollo Global Management by 3.3% in the first quarter. iA Global Asset Management Inc. now owns 258,912 shares of the financial services provider's stock valued at $35,455,000 after acquiring an additional 8,220 shares during the last quarter. Finally, Levin Capital Strategies L.P. boosted its holdings in Apollo Global Management by 8.4% in the first quarter. Levin Capital Strategies L.P. now owns 66,212 shares of the financial services provider's stock valued at $9,067,000 after acquiring an additional 5,131 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.20% of the company's stock.

Apollo Global Management Stock Performance

NYSE:APO traded up $0.88 during trading on Friday, reaching $141.99. The company's stock had a trading volume of 3,008,676 shares, compared to its average volume of 2,955,388. The firm has a market cap of $81.15 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.27. The firm has a 50 day moving average of $141.82 and a 200-day moving average of $141.59. Apollo Global Management Inc. has a 12 month low of $102.42 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a return on equity of 13.23% and a net margin of 13.25%. During the same quarter in the prior year, the company earned $1.64 EPS. Research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Apollo Global Management's dividend payout ratio is presently 38.13%.

Analyst Ratings Changes

Several equities analysts have issued reports on APO shares. Wells Fargo & Company boosted their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Evercore ISI boosted their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday. Morgan Stanley dropped their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Citigroup boosted their price target on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.26.

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.