Twin Capital Management Inc. Buys 3,656 Shares of Apollo Global Management Inc. (NYSE:APO)

Twin Capital Management Inc. increased its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 56.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,104 shares of the financial services provider's stock after purchasing an additional 3,656 shares during the quarter. Twin Capital Management Inc.'s holdings in Apollo Global Management were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Harbour Investments Inc. boosted its position in Apollo Global Management by 154.0% during the 4th quarter. Harbour Investments Inc. now owns 409 shares of the financial services provider's stock worth $68,000 after acquiring an additional 248 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $1,966,000. Virtu Financial LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $1,491,000. Mizuho Securities USA LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $6,997,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $22,097,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

APO stock traded up $1.06 during trading on Thursday, hitting $152.91. The company had a trading volume of 839,954 shares, compared to its average volume of 3,642,299. The company has a fifty day moving average price of $139.16 and a two-hundred day moving average price of $143.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market cap of $87.38 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.69 and a beta of 1.59. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. Apollo Global Management's quarterly revenue was down 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 EPS. Equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.33%. 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 35.73%.

Wall Street Analysts Forecast Growth

APO has been the subject of several analyst reports. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Raymond James Financial initiated coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price for the company. Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Finally, Piper Sandler reduced their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $161.00.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is owned by company insiders.

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.