Zurich Insurance Group Ltd FI Increases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Zurich Insurance Group Ltd FI raised its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 539,726 shares of the financial services provider's stock after purchasing an additional 59,665 shares during the period. Zurich Insurance Group Ltd FI owned 0.10% of Apollo Global Management worth $89,141,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $34,000. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $37,000. HM Payson & Co. acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $45,000. Finally, UMB Bank n.a. boosted its holdings in shares of Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 228 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. The trade was a 1.42% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APO shares. Morgan Stanley decreased their price objective 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. Raymond James started coverage on Apollo Global Management in a report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target for the company. UBS Group decreased their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $157.89.

Apollo Global Management Trading Down 0.9%

Shares of APO stock opened at $142.61 on Tuesday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The stock has a market cap of $81.36 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.17 and a beta of 1.67. The business has a fifty day simple moving average of $133.11 and a 200-day simple moving average of $152.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. During the same quarter 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. On average, analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.51 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.43%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) 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.

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