FORA Capital LLC bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 90,627 shares of the financial services provider's stock, valued at approximately $14,968,000. Apollo Global Management makes up 1.7% of FORA Capital LLC's portfolio, making the stock its 3rd largest position.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clark Capital Management Group Inc. boosted its holdings in Apollo Global Management by 19.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 26,212 shares of the financial services provider's stock valued at $4,329,000 after purchasing an additional 4,339 shares in the last quarter. Deutsche Bank AG boosted its stake in Apollo Global Management by 1.9% in the 4th quarter. Deutsche Bank AG now owns 1,192,568 shares of the financial services provider's stock valued at $196,965,000 after buying an additional 21,805 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Apollo Global Management in the 4th quarter valued at $6,297,000. EP Wealth Advisors LLC grew its position in Apollo Global Management by 1.9% in the fourth quarter. EP Wealth Advisors LLC now owns 5,560 shares of the financial services provider's stock valued at $918,000 after acquiring an additional 104 shares during the period. Finally, Colonial Trust Co SC raised its stake in Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 77.06% of the company's stock.
Insider Activity at Apollo Global Management
In related news, insider Leon D. Black sold 500,000 shares of the 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 owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 509,000 shares of company stock valued at $72,321,680. 8.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts have weighed in on APO shares. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Wells Fargo & Company dropped 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. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley lowered their target price on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Citigroup reduced their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.89.
Check Out Our Latest Stock Analysis on Apollo Global Management
Apollo Global Management Trading Down 0.5 %
NYSE APO traded down $0.70 during mid-day trading on Friday, reaching $132.49. 2,734,832 shares of the stock were exchanged, compared to its average volume of 3,880,967. The stock has a market cap of $75.58 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.17 and a beta of 1.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a 50 day simple moving average of $131.82 and a 200-day simple moving average of $152.55.
Apollo Global Management (NYSE:APO - Get Free Report) last issued its 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 return on equity of 13.97% and a net margin of 17.53%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The company's revenue for the quarter was down 21.2% compared to the same quarter last year. On average, analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current year.
Apollo Global Management Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.51 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. Apollo Global Management's payout ratio is presently 35.73%.
About Apollo Global Management
(
Free Report)
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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