Elequin Capital LP Takes $58,000 Position in Apollo Global Management, Inc. (NYSE:APO)

Elequin Capital LP purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 352 shares of the financial services provider’s stock, valued at approximately $58,000.

Other hedge funds also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in Apollo Global Management in the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter valued at $34,000. Byrne Asset Management LLC acquired a new position in Apollo Global Management during the 4th quarter valued at about $37,000. HM Payson & Co. bought a new position in Apollo Global Management in the fourth quarter valued at approximately $45,000. Finally, UMB Bank n.a. increased its holdings in Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the subject of several research analyst reports. UBS Group reduced their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Raymond James assumed coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price objective for the company. Barclays upped their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Wells Fargo & Company decreased their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen lowered their price target on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.89.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of APO stock opened at $139.19 on Wednesday. The business has a 50-day simple moving average of $133.29 and a 200-day simple moving average of $152.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $79.41 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data 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). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same quarter in the prior year, the company posted $1.72 earnings per share. The business’s revenue was down 21.2% on a year-over-year basis. On average, equities analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed 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. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, May 16th. Apollo Global Management’s payout ratio 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.