Islay Capital Management LLC Increases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Islay Capital Management LLC raised its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 98.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,676 shares of the financial services provider’s stock after buying an additional 3,816 shares during the quarter. Islay Capital Management LLC’s holdings in Apollo Global Management were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Apollo Global Management by 18.9% during the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after acquiring an additional 1,584,201 shares during the period. Mariner LLC lifted its stake in shares of Apollo Global Management by 0.3% during the third quarter. Mariner LLC now owns 3,648,342 shares of the financial services provider’s stock worth $327,475,000 after purchasing an additional 9,962 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Apollo Global Management by 2.5% during the third quarter. Northern Trust Corp now owns 2,968,775 shares of the financial services provider’s stock worth $266,477,000 after purchasing an additional 72,111 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Apollo Global Management by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 2,121,839 shares of the financial services provider’s stock worth $190,456,000 after purchasing an additional 116,062 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Apollo Global Management by 11.2% during the third quarter. William Blair Investment Management LLC now owns 1,902,972 shares of the financial services provider’s stock worth $170,811,000 after purchasing an additional 191,881 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity

In other news, insider Leon D. Black sold 300,000 shares of the company’s stock in a transaction that occurred on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the completion of the transaction, the insider now directly owns 43,054,773 shares of the company’s stock, valued at $4,801,037,737.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James C. Zelter sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the sale, the insider now directly owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 300,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 43,054,773 shares in the company, valued at $4,801,037,737.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,426,000 shares of company stock valued at $158,226,960. 8.70% of the stock is currently owned by insiders.

Apollo Global Management Stock Down 1.9 %

NYSE APO traded down $2.16 on Tuesday, hitting $108.75. 968,640 shares of the stock traded hands, compared to its average volume of 2,299,831. The stock has a 50-day moving average of $111.20 and a 200 day moving average of $99.52. Apollo Global Management, Inc. has a twelve month low of $57.50 and a twelve month high of $117.15. The company has a market capitalization of $61.79 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.94 and a beta of 1.63. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $795.00 million during the quarter, compared to analyst estimates of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. As a group, analysts expect that Apollo Global Management, Inc. will post 7.43 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.45%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APO. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Barclays boosted their price objective on Apollo Global Management from $122.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. BMO Capital Markets boosted their price target on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their price target on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, TD Cowen assumed coverage on Apollo Global Management in a research note on Thursday, January 4th. They issued an “outperform” rating and a $115.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.33.

Apollo Global Management 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.