Quent Capital LLC Increases Position in Apollo Global Management, Inc. (NYSE:APO)

Quent Capital LLC lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,080 shares of the financial services provider’s stock after buying an additional 159 shares during the period. Quent Capital LLC’s holdings in Apollo Global Management were worth $1,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APO. Flagship Harbor Advisors LLC raised its holdings in shares of Apollo Global Management by 6.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,035 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 120 shares during the period. Blue Trust Inc. raised its holdings in shares of Apollo Global Management by 29.6% in the 4th quarter. Blue Trust Inc. now owns 4,156 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 948 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $216,000. Pacer Advisors Inc. raised its holdings in shares of Apollo Global Management by 357,460.0% in the 4th quarter. Pacer Advisors Inc. now owns 35,756 shares of the financial services provider’s stock worth $5,905,000 after purchasing an additional 35,746 shares during the period. Finally, Nilsine Partners LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $289,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.2%

Apollo Global Management stock opened at $131.75 on Friday. The stock has a market cap of $75.29 billion, a P/E ratio of 18.02, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The firm’s fifty day moving average price is $131.86 and its 200-day moving average price is $151.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO) last announced 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). 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 during the quarter, compared to analysts’ expectations of $977.14 million. During the same quarter last year, the firm posted $1.72 earnings per share. The firm’s revenue was down 21.2% on a year-over-year basis. Equities research analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.55%. Apollo Global Management’s payout ratio is 35.73%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares of the company’s stock, 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. 8.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on APO shares. Piper Sandler lowered their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Citigroup lowered their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. TD Cowen lowered 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 report on Wednesday, April 9th. Cowen reissued a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Barclays boosted their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, May 5th. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Apollo Global Management 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.