Raiffeisen Bank International AG Invests $450,000 in Apollo Global Management, Inc. (NYSE:APO)

Raiffeisen Bank International AG bought a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,704 shares of the financial services provider’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of APO. Brookstone Capital Management acquired a new position in Apollo Global Management in the fourth quarter valued at $441,000. Assenagon Asset Management S.A. increased its position in Apollo Global Management by 9.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 11,115 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 954 shares during the period. Park Avenue Securities LLC raised its stake in Apollo Global Management by 26.2% during the 4th quarter. Park Avenue Securities LLC now owns 4,350 shares of the financial services provider’s stock valued at $718,000 after acquiring an additional 903 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Apollo Global Management during the 4th quarter valued at approximately $704,000. Finally, Ritholtz Wealth Management acquired a new stake in Apollo Global Management during the 4th quarter worth approximately $229,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 0.1%

Shares of Apollo Global Management stock opened at $143.80 on Friday. The company has a 50-day moving average of $132.95 and a two-hundred day moving average of $152.51. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $82.04 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 13.97% and a net margin of 17.53%. The business’s revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. On average, research analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated 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 directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the company’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America lifted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Raymond James initiated coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price objective on the stock. Citigroup reduced their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price target on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.89.

Apollo Global Management Company Profile

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.