Cerity Partners LLC Grows Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Cerity Partners LLC increased its position in Apollo Global Management, Inc. (NYSE:APO) by 67.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 154,844 shares of the financial services provider’s stock after acquiring an additional 62,402 shares during the period. Cerity Partners LLC’s holdings in Apollo Global Management were worth $14,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Custom Index Systems LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $304,000. Kendall Capital Management purchased a new position in Apollo Global Management in the 4th quarter worth approximately $574,000. Sequoia Financial Advisors LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $247,000. Allspring Global Investments Holdings LLC raised its holdings in Apollo Global Management by 2,708.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 115,099 shares of the financial services provider’s stock worth $10,726,000 after acquiring an additional 111,001 shares during the last quarter. Finally, Strategic Blueprint LLC raised its holdings in Apollo Global Management by 42.4% in the 4th quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock worth $4,341,000 after acquiring an additional 13,870 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APO shares. Citigroup boosted their price objective on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. TD Cowen assumed coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They issued an “outperform” rating and a $115.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Apollo Global Management in a research report on Wednesday, February 28th. They issued an “overweight” rating and a $122.00 target price for the company. Morgan Stanley lifted their target price on shares of Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.25.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 300,000 shares of Apollo Global Management stock in a transaction on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the transaction, the insider now owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Apollo Global Management news, insider Leon D. Black sold 300,000 shares of the business’s stock in a transaction on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total value of $33,453,000.00. Following the sale, the insider now owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the completion of the sale, the insider now owns 44,104,773 shares in the company, valued at approximately $4,915,035,903.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,426,000 shares of company stock worth $158,226,960. 8.70% of the stock is owned by corporate insiders.

Apollo Global Management Trading Down 2.6 %

Shares of APO stock opened at $110.13 on Friday. Apollo Global Management, Inc. has a 1 year low of $57.50 and a 1 year high of $117.15. The firm has a fifty day moving average price of $111.03 and a 200-day moving average price of $97.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.94 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The company had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. As a group, equities analysts predict that Apollo Global Management, Inc. will post 7.5 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.45%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.