Westbourne Investments Inc. Acquires New Shares in Apollo Global Management, Inc. (NYSE:APO)

Westbourne Investments Inc. acquired a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,600 shares of the financial services provider's stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its stake in Apollo Global Management by 2.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock worth $447,000 after purchasing an additional 71 shares during the last quarter. Tower Wealth Partners Inc. raised its position in shares of Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock valued at $288,000 after buying an additional 74 shares during the last quarter. Sfmg LLC raised its position in shares of Apollo Global Management by 1.1% in the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider's stock valued at $902,000 after buying an additional 79 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Apollo Global Management by 0.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider's stock worth $1,639,000 after buying an additional 90 shares in the last quarter. Finally, Westmount Partners LLC boosted its position in Apollo Global Management by 1.8% during the fourth quarter. Westmount Partners LLC now owns 5,091 shares of the financial services provider's stock worth $841,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Down 1.7 %

Shares of NYSE:APO traded down $2.40 during trading hours on Friday, reaching $135.49. The stock had a trading volume of 4,382,021 shares, compared to its average volume of 3,846,565. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm's 50 day moving average is $133.18 and its 200-day moving average is $152.99. The stock has a market capitalization of $77.29 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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 business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. The firm's quarterly revenue was down 21.2% on a year-over-year basis. Research analysts predict 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. Stockholders of record on Friday, May 16th will be issued a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.51%. Apollo Global Management's dividend payout ratio is presently 25.31%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management 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 transaction, the chief financial officer now owns 377,164 shares of the company's stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired 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 in the company, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. 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 note on Wednesday, April 9th. UBS Group cut their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods lowered their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup dropped 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 report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.25.

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.