Trust Asset Management LLC Takes Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Trust Asset Management LLC invested approximately $705,000 in Apollo Global Management by acquiring 5,147 shares in the first quarter, indicating growing institutional interest in the company.
• The stock received mixed ratings from analysts, with seventeen analysts rating it as a buy and one as a strong buy, while Morgan Stanley set a new price objective of $131.00, down from $170.00.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, yielding 1.4%, and reported strong earnings of $1.92 per share, exceeding expectations of $1.84.

Trust Asset Management LLC acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,147 shares of the financial services provider's stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $25,000. GW&K Investment Management LLC grew its position in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the last quarter. ORG Partners LLC grew 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 during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. grew its position in shares of Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APO shares. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. 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 note on Thursday, May 1st. 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 note on Monday, May 5th. 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 note on Monday, April 14th. Finally, Evercore ISI boosted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. One investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $161.26.

Apollo Global Management Stock Up 1.8%

Shares of Apollo Global Management stock traded up $2.51 on Tuesday, hitting $144.63. The company had a trading volume of 2,913,189 shares, compared to its average volume of 3,064,792. The stock has a market capitalization of $82.66 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.48 and a beta of 1.62. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The stock has a 50 day moving average of $142.32 and a 200-day moving average of $141.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate 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 13.38% and a net margin of 13.25%. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.51 dividend. The ex-dividend date of this dividend 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 38.13%.

Insider Activity at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

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.