Westbourne Investments Inc. Makes New $429,000 Investment 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 and Exchange Commission. The institutional investor acquired 2,600 shares of the financial services provider's stock, valued at approximately $429,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new position in shares of Apollo Global Management during the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the fourth quarter worth $34,000. Byrne Asset Management LLC bought a new position in Apollo Global Management in the fourth quarter worth $37,000. Retirement Wealth Solutions LLC bought a new position in Apollo Global Management in the fourth quarter worth $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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APO shares. UBS Group lowered their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Raymond James started coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Piper Sandler dropped their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $155.85.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value 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. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of 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 position. The disclosure for this purchase can be found here. Insiders own 8.50% of the company's stock.

Apollo Global Management Stock Performance

Shares of APO stock traded down $3.29 on Tuesday, reaching $130.69. The stock had a trading volume of 1,391,833 shares, compared to its average volume of 3,838,918. 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, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock has a market cap of $74.56 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a 50 day simple moving average of $132.91 and a 200 day simple moving average of $152.97.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. During the same period in the previous year, the business posted $1.72 earnings per share. The company's revenue for the quarter was down 21.2% on a year-over-year basis. Equities research analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm 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. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 16th. Apollo Global Management's dividend payout ratio is currently 25.31%.

About Apollo Global Management

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.