Verdence Capital Advisors LLC Boosts Stock Position in Apollo Global Management Inc. (NYSE:APO)

Verdence Capital Advisors LLC lifted its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,065 shares of the financial services provider's stock after purchasing an additional 9,997 shares during the period. Verdence Capital Advisors LLC's holdings in Apollo Global Management were worth $5,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ellevest Inc. boosted its holdings in shares of Apollo Global Management by 1.5% during the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock worth $735,000 after purchasing an additional 67 shares during the last quarter. Vivaldi Capital Management LP boosted its holdings in shares of Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock worth $566,000 after purchasing an additional 71 shares during the last quarter. Colonial Trust Co SC boosted its holdings in shares of Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after purchasing an additional 79 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of Apollo Global Management by 19.7% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock worth $73,000 after purchasing an additional 88 shares during the last quarter. Finally, World Investment Advisors boosted its holdings in shares of Apollo Global Management by 1.3% during the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider's stock worth $971,000 after purchasing an additional 93 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer owned 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Trading Down 2.5%

NYSE:APO traded down $3.86 during trading hours on Friday, reaching $152.19. 2,927,816 shares of the stock were exchanged, compared to its average volume of 3,956,493. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The business has a 50-day moving average of $138.57 and a two-hundred day moving average of $143.49. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $86.98 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.72 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same period in the prior year, the company posted $1.72 EPS. The firm's revenue was down 21.2% compared to the same quarter last year. On average, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is currently 35.73%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler decreased their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Barclays upped their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group decreased their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley decreased their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.00.

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.