Cary Street Partners Financial LLC Makes New $977,000 Investment in Apollo Global Management, Inc. (NYSE:APO)

Cary Street Partners Financial LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,913 shares of the financial services provider’s stock, valued at approximately $977,000.

Several other large investors have also recently made changes to their positions in APO. Kestra Private Wealth Services LLC bought a new position in Apollo Global Management in the fourth quarter worth about $3,994,000. Fortress Financial Solutions LLC bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $685,000. Leavell Investment Management Inc. lifted its position in Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 1,750 shares during the last quarter. Amundi boosted its stake in Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock valued at $129,788,000 after acquiring an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $20,034,000. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company decreased their price objective 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. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Raymond James started coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective on the stock. Piper Sandler lowered their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America upped their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.85.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction 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 represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 509,000 shares of company stock worth $72,321,680 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 0.0 %

Shares of NYSE:APO opened at $129.34 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The business has a 50 day moving average of $132.15 and a two-hundred day moving average of $152.64. The company has a market capitalization of $73.79 billion, a PE ratio of 17.69, a PEG ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO) last posted 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). The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. As a group, analysts forecast 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. Stockholders of record on Friday, May 16th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, May 16th. 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 dividend yield of 1.58%. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

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.