Fortress Financial Solutions LLC Buys 342 Shares of Apollo Global Management Inc. (NYSE:APO)

Fortress Financial Solutions LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,487 shares of the financial services provider’s stock after purchasing an additional 342 shares during the period. Apollo Global Management accounts for approximately 0.9% of Fortress Financial Solutions LLC’s holdings, making the stock its 23rd largest holding. Fortress Financial Solutions LLC’s holdings in Apollo Global Management were worth $615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in APO. Independent Advisor Alliance boosted its position in shares of Apollo Global Management by 78.0% in the 4th quarter. Independent Advisor Alliance now owns 3,438 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 1,506 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Apollo Global Management by 122.1% in the fourth quarter. Farther Finance Advisors LLC now owns 3,661 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 2,013 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Apollo Global Management by 18.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 10,065 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 1,551 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth about $471,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Apollo Global Management by 32.3% during the 4th quarter. Natixis Advisors LLC now owns 207,096 shares of the financial services provider’s stock valued at $34,204,000 after purchasing an additional 50,511 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer owned 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

APO has been the topic of several research analyst reports. Barclays raised their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday. Raymond James Financial initiated coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective on the stock. Citigroup boosted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group dropped their price target on 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $161.00.

Apollo Global Management Stock Down 0.7%

NYSE:APO opened at $147.21 on Monday. The firm has a market capitalization of $84.13 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The stock’s 50 day moving average price is $137.02 and its two-hundred day moving average price is $143.64. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last posted its quarterly 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). The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business’s revenue was down 21.2% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. Equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management’s dividend payout ratio is presently 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.