Westwood Holdings Group Inc. Increases Stake in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Westwood Holdings Group Inc. increased its stake in Apollo Global Management by 32.5% during the first quarter, now owning 23,247 shares valued at approximately $3.18 million.
• The stock has seen significant institutional investment, with 77.06% of shares currently held by institutional investors and hedge funds.
• Apollo Global Management reported $1.92 earnings per share for the most recent quarter, exceeding analysts' expectations, alongside a declared quarterly dividend of $0.51 per share.

Westwood Holdings Group Inc. increased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 32.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,247 shares of the financial services provider's stock after buying an additional 5,697 shares during the period. Westwood Holdings Group Inc.'s holdings in Apollo Global Management were worth $3,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after purchasing an additional 1,739,807 shares in the last quarter. Northern Trust Corp grew its stake in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Allen Investment Management LLC grew its stake in shares of Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock valued at $361,664,000 after buying an additional 333,428 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Apollo Global Management by 71.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock valued at $429,405,000 after buying an additional 1,082,825 shares during the last quarter. Finally, Curated Wealth Partners LLC grew its stake in shares of Apollo Global Management by 0.3% in the first quarter. Curated Wealth Partners LLC now owns 2,229,366 shares of the financial services provider's stock worth $305,289,000 after purchasing an additional 6,623 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Activity

In related news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on APO shares. Evercore ISI raised their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday. Citigroup lifted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Barclays boosted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company upped their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $161.26.

Apollo Global Management Trading Up 0.6%

NYSE:APO traded up $0.88 on Friday, hitting $141.99. The stock had a trading volume of 3,008,676 shares, compared to its average volume of 2,955,388. The company has a quick ratio of 1.36, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $81.15 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.47 and a beta of 1.62. The company has a fifty day moving average price of $141.82 and a two-hundred day moving average price of $141.59. Apollo Global Management Inc. has a 1-year low of $102.42 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.23%. During the same period in the previous year, the business posted $1.64 EPS. Equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's payout ratio is 38.13%.

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.