Proathlete Wealth Management LLC Purchases Shares of 421 Apollo Global Management Inc. (NYSE:APO)

Proathlete Wealth Management LLC purchased a new stake in Apollo Global Management Inc. (NYSE:APO) during the 1st quarter, Holdings Channel reports. The firm purchased 421 shares of the financial services provider’s stock, valued at approximately $58,000.

Several other large investors also recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 171 shares during the period. Institute for Wealth Management LLC. acquired a new stake in shares of Apollo Global Management in the first quarter valued at approximately $1,043,000. Johnson Investment Counsel Inc. acquired a new stake in shares of Apollo Global Management in the first quarter valued at approximately $21,166,000. State of Alaska Department of Revenue increased its stake in shares of Apollo Global Management by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 52,370 shares of the financial services provider’s stock valued at $7,171,000 after acquiring an additional 1,405 shares during the period. Finally, CWA Asset Management Group LLC increased its stake in shares of Apollo Global Management by 13.4% during the first quarter. CWA Asset Management Group LLC now owns 3,987 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 472 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APO shares. Citigroup lowered their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. UBS Group lowered their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Raymond James Financial started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective on the stock. Finally, 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 note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Insider Activity

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Apollo Global Management Trading Up 0.5%

Apollo Global Management stock opened at $133.02 on Friday. The company has a 50 day moving average price of $133.14 and a 200 day moving average price of $147.62. Apollo Global Management Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $76.02 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.37 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last issued its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The company’s quarterly revenue was down 21.2% on a year-over-year basis. During the same period last year, the business earned $1.72 EPS. Research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

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.