Apollo Global Management Inc. (NYSE:APO) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Apollo Global Management by 2.0%, owning approximately 46 million shares valued at over $6.3 billion as of their latest 13F filing.
• Apollo Global Management reported an earnings per share (EPS) of $1.92 for the last quarter, beating estimates and reflecting a significant year-over-year increase.
• The company declared a quarterly dividend of $0.51 per share, with an annualized dividend yield of 1.4% and a payout ratio of 35.73%.

Vanguard Group Inc. increased its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,028,812 shares of the financial services provider's stock after purchasing an additional 893,428 shares during the quarter. Vanguard Group Inc. owned approximately 8.07% of Apollo Global Management worth $6,303,186,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of APO. Principal Financial Group Inc. boosted its holdings in Apollo Global Management by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after buying an additional 7,441 shares during the period. Clearview Wealth Advisors LLC boosted its holdings in Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after buying an additional 17,418 shares during the period. Toronto Dominion Bank boosted its holdings in Apollo Global Management by 209.0% in the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after buying an additional 110,014 shares during the period. Sowell Financial Services LLC bought a new position in Apollo Global Management in the 1st quarter worth $871,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Apollo Global Management in the 1st quarter worth $492,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 0.6%

Shares of Apollo Global Management stock 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 company has a quick ratio of 1.36, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $81.15 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.47 and a beta of 1.62. Apollo Global Management Inc. has a 1-year low of $102.42 and a 1-year high of $189.49. The company has a 50-day simple moving average of $141.82 and a two-hundred day simple moving average of $141.59.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $1.64 EPS. As a group, equities analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

Insider Activity

In related news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on APO shares. Barclays upped their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Citigroup boosted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. UBS Group cut their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company lifted their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.