Apollo Global Management, Inc. (NYSE:APO) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,674 shares of the financial services provider’s stock after acquiring an additional 205 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Apollo Global Management were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in APO. Geode Capital Management LLC increased its position in shares of Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. increased its stake in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after buying an additional 3,691,700 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after buying an additional 1,886,146 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after buying an additional 1,739,807 shares during the period. Finally, Northern Trust Corp increased its stake in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after buying an additional 1,460,689 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APO has been the topic of several recent research reports. Morgan Stanley cut their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Raymond James initiated coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 target price on the stock. Barclays upped their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Piper Sandler cut their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, TD Cowen cut their target price on shares of 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. 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Apollo Global Management Stock Up 1.7%

APO stock opened at $135.82 on Wednesday. The company has a fifty day moving average price of $130.76 and a 200 day moving average price of $149.37. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market cap of $77.62 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $977.14 million. During the same quarter last year, the company earned $1.72 EPS. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. Sell-side analysts expect that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.51 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.50%. Apollo Global Management’s dividend payout ratio is 35.73%.

Insider Activity at Apollo Global Management

In other news, insider Lb 2018 Gst Trust acquired 607,725 shares of the business’s stock in a transaction on Friday, April 4th. The stock was bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible 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 transaction of $530,280.00. Following the transaction, the chief financial officer now owns 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

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.