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Elevation Point Wealth Partners LLC purchased a new position in Apollo Global Management, Inc. (NYSE:APO – Free Report) during the first quarter, HoldingsChannel.com reports. The fund purchased 3,590 shares of the financial services provider’s stock, valued at approximately $492,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $25,000. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $34,000. HM Payson & Co. purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $45,000. Finally, Colonial Trust Co SC raised its stake in Apollo Global Management by 29.2% in the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 79 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apollo Global Management
In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the company’s stock in a transaction dated 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 acquisition, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the business’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 sale, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
APO has been the topic of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Morgan Stanley lowered their target price 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. Raymond James initiated coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 target price on the stock. Finally, 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 research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $159.00.
Read Our Latest Analysis on Apollo Global Management
Apollo Global Management Stock Performance
NYSE:APO opened at $132.16 on Monday. The stock has a market cap of $75.53 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The firm’s fifty day simple moving average is $132.32 and its 200 day simple moving average is $148.39. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.
Apollo Global Management (NYSE:APO – Get Free Report) last released its quarterly 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). The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business’s revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 EPS. As a group, research analysts predict that Apollo Global Management, Inc. will post 8 EPS for the current year.
Apollo Global Management Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.54%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 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.
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Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management, Inc. (NYSE:APO – Free Report).
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