Apollon Wealth Management LLC Acquires 1,849 Shares of Apollo Global Management Inc. (NYSE:APO)

Apollon Wealth Management LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,975 shares of the financial services provider’s stock after purchasing an additional 1,849 shares during the period. Apollon Wealth Management LLC’s holdings in Apollo Global Management were worth $4,105,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of APO. Independent Advisor Alliance lifted its holdings in Apollo Global Management by 78.0% during the fourth quarter. Independent Advisor Alliance now owns 3,438 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 1,506 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Apollo Global Management by 18.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 10,065 shares of the financial services provider’s stock valued at $1,662,000 after purchasing an additional 1,551 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at $471,000. Natixis Advisors LLC boosted its holdings in Apollo Global Management by 32.3% in the 4th quarter. Natixis Advisors LLC now owns 207,096 shares of the financial services provider’s stock worth $34,204,000 after buying an additional 50,511 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Apollo Global Management by 8.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,687 shares of the financial services provider’s stock worth $2,591,000 after buying an additional 1,274 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business’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 completion of the transaction, the chief financial officer owned 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is owned by company insiders.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $148.63 on Tuesday. The stock has a market cap of $84.94 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. 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 stock has a 50 day moving average price of $137.02 and a 200-day moving average price of $143.64. Apollo Global Management Inc. has a one year low of $95.11 and a one year 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 EPS 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 firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $977.14 million. During the same period in the previous year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.37%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Analysts Set New Price Targets

Several brokerages have recently commented on APO. Bank of America boosted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. TD Cowen dropped their price target on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley cut their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Citigroup boosted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Raymond James Financial initiated 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 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $161.00.

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.