Nearwater Capital Markets Ltd Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Nearwater Capital Markets Ltd 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 Securities and Exchange Commission (SEC). The fund bought 87,832 shares of the financial services provider's stock, valued at approximately $14,506,000.

Several other institutional investors and hedge funds also recently bought and sold shares of APO. Hopwood Financial Services Inc. purchased a new position in Apollo Global Management during the fourth quarter valued at $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management during the fourth quarter valued at $34,000. Byrne Asset Management LLC purchased a new position in Apollo Global Management during the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC purchased a new position in Apollo Global Management during the fourth quarter valued at $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management during the fourth quarter valued at $45,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of NYSE:APO traded down $0.19 during mid-day trading on Friday, reaching $143.80. The stock had a trading volume of 2,399,313 shares, compared to its average volume of 3,911,441. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market cap of $82.04 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The business's 50 day moving average price is $132.95 and its 200 day moving average price is $152.46.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. Apollo Global Management's quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Research analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.51 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, May 16th. Apollo Global Management's payout ratio is presently 35.73%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was 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. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the purchase, the insider now directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. The trade was a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on APO. Morgan Stanley lowered their target price on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Piper Sandler lowered their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. TD Cowen lowered their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Wells Fargo & Company lowered their price objective on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.89.

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.