Rafferty Asset Management LLC Buys New Shares in Apollo Global Management, Inc. (NYSE:APO)

Rafferty Asset Management LLC purchased a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 157,705 shares of the financial services provider's stock, valued at approximately $26,047,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new stake in Apollo Global Management in the fourth quarter worth about $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management in the fourth quarter worth about $34,000. Byrne Asset Management LLC bought a new stake in Apollo Global Management in the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC bought a new stake in Apollo Global Management in the fourth quarter worth about $39,000. Finally, HM Payson & Co. bought a new stake in Apollo Global Management in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Down 0.9%

Apollo Global Management stock traded down $1.23 during mid-day trading on Monday, reaching $142.61. 1,774,904 shares of the company were exchanged, compared to its average volume of 3,911,410. The business has a fifty day moving average of $132.95 and a 200 day moving average of $152.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $81.36 billion, a P/E ratio of 19.51, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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). The company had revenue of $5.55 billion for 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%. The firm's quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is currently 35.73%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of Apollo Global Management stock in a transaction dated Friday, April 4th. The shares were acquired 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 owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the transaction, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APO shares. TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Piper Sandler decreased their price objective on shares of 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. Citigroup decreased their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Bank of America raised 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. Finally, Barclays lifted their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. One 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 presently has an average rating of "Moderate Buy" and an average target price of $157.89.

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.