Apollo Global Management, Inc. (NYSE:APO) Stock Position Lifted by Balentine LLC

Balentine LLC boosted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 10.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,724 shares of the financial services provider’s stock after purchasing an additional 262 shares during the period. Balentine LLC’s holdings in Apollo Global Management were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APO. Perigon Wealth Management LLC lifted its stake in shares of Apollo Global Management by 4.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock worth $254,000 after buying an additional 107 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Apollo Global Management by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,775 shares of the financial services provider’s stock worth $2,588,000 after buying an additional 117 shares during the last quarter. CWM LLC lifted its stake in shares of Apollo Global Management by 3.0% in the fourth quarter. CWM LLC now owns 5,727 shares of the financial services provider’s stock worth $534,000 after buying an additional 169 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of Apollo Global Management by 3.9% in the fourth quarter. Fulton Bank N.A. now owns 4,583 shares of the financial services provider’s stock worth $427,000 after buying an additional 170 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in shares of Apollo Global Management by 9.6% in the fourth quarter. Smithfield Trust Co now owns 1,944 shares of the financial services provider’s stock worth $181,000 after buying an additional 170 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the transaction, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the sale, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The disclosure for this sale can be found here. In the last three months, insiders sold 780,000 shares of company stock valued at $86,611,200. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

APO has been the topic of several analyst reports. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Jefferies Financial Group lowered their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Citigroup upped their target price 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. Keefe, Bruyette & Woods upped their target price on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Wells Fargo & Company upped their target price on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $115.62.

Apollo Global Management Price Performance

NYSE APO opened at $112.90 on Friday. The business has a 50 day simple moving average of $111.79 and a 200 day simple moving average of $102.87. Apollo Global Management, Inc. has a 52-week low of $62.63 and a 52-week high of $117.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $64.15 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.93 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $827.33 million. Analysts anticipate that Apollo Global Management, Inc. will post 7.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.64%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Apollo Global Management Company Profile

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.