WCG Wealth Advisors LLC Takes $2.24 Million Position in Apollo Global Management Inc. $APO

Key Points

• WCG Wealth Advisors opened a new position in Apollo Global Management, buying 15,478 shares valued at about $2.24 million in the fourth quarter.
• Several other institutions also increased or initiated stakes, and overall 77.06% of Apollo’s stock is held by hedge funds and other institutional investors.
• Insider John P. Zito sold 48,644 shares for roughly $6.36 million, while Apollo’s stock was down slightly and the company recently raised its quarterly dividend to $0.5625 per share.

WCG Wealth Advisors LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,478 shares of the financial services provider's stock, valued at approximately $2,241,000.

Several other institutional investors and hedge funds have also made changes to their positions in APO. Schnieders Capital Management LLC. acquired a new stake in Apollo Global Management in the second quarter valued at $7,954,000. Baird Financial Group Inc. raised its holdings in Apollo Global Management by 117.5% in the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider's stock valued at $2,287,000 after acquiring an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Apollo Global Management by 4.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider's stock valued at $949,000 after acquiring an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Apollo Global Management in the second quarter valued at $722,000. Finally, Northern Right Capital Management L.P. raised its holdings in Apollo Global Management by 1.5% in the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider's stock valued at $24,542,000 after acquiring an additional 2,500 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.30% of the stock is owned by company insiders.

Apollo Global Management Stock Down 0.3%

Apollo Global Management stock opened at $128.01 on Friday. The company has a 50-day simple moving average of $122.81 and a 200-day simple moving average of $127.80. The firm has a market capitalization of $73.80 billion, a P/E ratio of 81.53, a P/E/G ratio of 1.11 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company's quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's payout ratio is 143.31%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada increased their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a report on Thursday, May 7th. The Goldman Sachs Group dropped their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Piper Sandler increased their target price on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $151.23.

Apollo Global Management Profile

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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