Apollo Global Management Inc. (NYSE:APO) Shares Bought by Overbrook Management Corp

Overbrook Management Corp raised its stake in Apollo Global Management Inc. (NYSE:APO) by 33.2% in the first quarter, HoldingsChannel.com reports. The fund owned 85,395 shares of the financial services provider’s stock after purchasing an additional 21,281 shares during the quarter. Apollo Global Management comprises approximately 2.7% of Overbrook Management Corp’s portfolio, making the stock its 16th biggest position. Overbrook Management Corp’s holdings in Apollo Global Management were worth $11,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in APO. Geode Capital Management LLC raised its holdings in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after acquiring an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after acquiring an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $143.01 on Friday. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The business has a 50-day moving average of $134.54 and a 200-day moving average of $146.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $81.73 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.44 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 for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. During the same period in the previous year, the company earned $1.72 EPS. Apollo Global Management’s quarterly revenue was down 21.2% on a year-over-year basis. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.51 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.43%. Apollo Global Management’s payout ratio is 35.73%.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of recent analyst reports. Barclays lifted their price objective on Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Raymond James Financial initiated coverage on Apollo Global Management in a research report on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price objective for the company. TD Cowen lowered their price objective on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Morgan Stanley lowered their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.20% of the company’s stock.

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.