Wealthfront Advisers LLC Boosts Holdings in Apollo Global Management Inc. (NYSE:APO)

Wealthfront Advisers LLC boosted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 42.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,402 shares of the financial services provider's stock after purchasing an additional 14,197 shares during the quarter. Wealthfront Advisers LLC's holdings in Apollo Global Management were worth $6,491,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Apollo Global Management by 8.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,687 shares of the financial services provider's stock valued at $2,591,000 after buying an additional 1,274 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Apollo Global Management by 154.0% in the fourth quarter. Harbour Investments Inc. now owns 409 shares of the financial services provider's stock valued at $68,000 after buying an additional 248 shares in the last quarter. PDS Planning Inc bought a new position in shares of Apollo Global Management in the fourth quarter valued at $236,000. Advisors Asset Management Inc. lifted its stake in shares of Apollo Global Management by 27.9% in the fourth quarter. Advisors Asset Management Inc. now owns 24,857 shares of the financial services provider's stock valued at $4,105,000 after buying an additional 5,416 shares in the last quarter. Finally, Horizon Investments LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at $1,997,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer owned 373,164 shares of the company's stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Raymond James Financial assumed coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Citigroup lifted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $161.00.

Apollo Global Management Price Performance

APO stock traded down $3.86 during midday trading on Friday, reaching $152.19. The company had a trading volume of 2,888,309 shares, compared to its average volume of 3,695,043. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a market capitalization of $86.98 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.72 and a beta of 1.59. The firm has a 50-day moving average price of $138.57 and a 200-day moving average price of $143.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS 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 during the quarter, compared to analysts' expectations of $977.14 million. During the same period in the prior year, the firm earned $1.72 EPS. Apollo Global Management's quarterly revenue was down 21.2% on a year-over-year basis. On average, research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

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.