Whalen Wealth Management Inc. Takes $429,000 Position in Apollo Global Management Inc. (NYSE:APO)

Whalen Wealth Management Inc. bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,136 shares of the financial services provider's stock, valued at approximately $429,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ellevest Inc. boosted its holdings in Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 67 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock valued at $447,000 after purchasing an additional 71 shares in the last quarter. Vivaldi Capital Management LP boosted its stake in shares of 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 buying an additional 71 shares during the last quarter. Tower Wealth Partners Inc. grew its position in shares of Apollo Global Management by 4.4% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock worth $288,000 after buying an additional 74 shares in the last quarter. Finally, Colonial Trust Co SC increased its stake 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 worth $58,000 after buying an additional 79 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Lb 2018 Gst Trust bought 607,725 shares of the business's stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction dated 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 now directly owns 373,164 shares of the company's stock, valued at $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $134.61 on Monday. The stock has a market cap of $76.93 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.39 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 12 month low of $95.11 and a 12 month high of $189.49. The stock's 50 day moving average price is $133.31 and its 200 day moving average price is $146.96.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share 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 firm 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 earned $1.72 EPS. The company's quarterly revenue was down 21.2% compared to the same quarter last year. Equities 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.52%. Apollo Global Management's dividend payout ratio is currently 35.73%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Piper Sandler decreased their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Raymond James Financial began coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. Barclays increased their target price on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. One 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.00.

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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