Vestcor Inc Raises Stock Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Vestcor Inc increased its stake in Apollo Global Management Inc. by 171.8% during the first quarter, owning a total of 19,642 shares worth approximately $2.69 million.
• Other notable institutional investors such as Massachusetts Financial Services Co. and Clearview Wealth Advisors LLC significantly raised their holdings in Apollo Global Management during recent quarters, indicating strong interest among hedge funds.
• Apollo Global Management reported $1.82 EPS for the last quarter, falling short of the consensus estimate of $1.84, with revenues down 21.2% compared to the previous year.

Vestcor Inc boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 171.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,642 shares of the financial services provider's stock after purchasing an additional 12,416 shares during the quarter. Vestcor Inc's holdings in Apollo Global Management were worth $2,690,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Principal Financial Group Inc. boosted its position in Apollo Global Management by 1.4% during the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after purchasing an additional 7,441 shares in the last quarter. Blue Whale Capital LLP purchased a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $47,400,000. Clearview Wealth Advisors LLC lifted its position in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after acquiring an additional 17,418 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after acquiring an additional 110,014 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the firm'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 completion of the sale, the chief financial officer owned 373,164 shares of the company's stock, valued at $49,470,351.48. This trade 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 is available through the SEC website. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

APO stock opened at $145.37 on Friday. The business has a fifty day moving average of $140.48 and a two-hundred day moving average of $142.54. 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 stock has a market cap of $83.08 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.64 and a beta of 1.59. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. Apollo Global Management's revenue was down 21.2% compared to the same quarter last year. During the same period last year, the business earned $1.72 EPS. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APO. UBS Group decreased their target price on 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. Barclays raised their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Evercore ISI raised their target price on Apollo Global Management from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Wells Fargo & Company raised their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Bank of America raised their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. 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 company. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $161.00.

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.

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