Westover Capital Advisors LLC Has $2.02 Million Stock Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Westover Capital Advisors LLC increased its stake in Apollo Global Management by 54.7% during the first quarter, acquiring an additional 5,226 shares, bringing their total holdings to approximately $2.02 million.
• Apollo Global Management reported a net revenue decline of 21.2% year-over-year for its latest quarter, with earnings per share of $1.82, missing estimates by $0.02.
• The latest dividend paid by Apollo was recently increased to $0.51 per share, reflecting a positive change from the previous dividend of $0.46, resulting in an annual yield of 1.34%.

Westover Capital Advisors LLC grew its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 54.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,783 shares of the financial services provider's stock after purchasing an additional 5,226 shares during the period. Westover Capital Advisors LLC's holdings in Apollo Global Management were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ellevest Inc. raised its holdings in Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock worth $735,000 after buying an additional 67 shares during the last quarter. Vivaldi Capital Management LP boosted its stake in 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 valued at $566,000 after purchasing an additional 71 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Apollo Global Management by 29.2% in the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 79 shares in the last quarter. GW&K Investment Management LLC grew its holdings in Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in 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 valued at $73,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were 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 in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.20% of the company's stock.

Apollo Global Management Stock Performance

NYSE APO opened at $151.84 on Friday. The company's 50 day simple moving average is $139.46 and its two-hundred day simple moving average is $142.94. The stock has a market capitalization of $86.78 billion, a PE ratio of 26.59, a P/E/G ratio of 1.71 and a beta of 1.59. 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.

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 (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same period in the prior year, the business posted $1.72 EPS. Apollo Global Management's quarterly revenue was down 21.2% on a year-over-year basis. Analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

Analysts Set New Price Targets

APO has been the topic of several analyst reports. Piper Sandler cut their price target on shares of 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 reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Raymond James Financial assumed coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. Wells Fargo & Company raised their price objective 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. Finally, Evercore ISI upped their price objective on Apollo Global Management from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

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