Apollo Global Management Inc. (NYSE:APO) Position Raised by CWA Asset Management Group LLC

CWA Asset Management Group LLC raised its stake in Apollo Global Management Inc. (NYSE:APO) by 13.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,987 shares of the financial services provider’s stock after buying an additional 472 shares during the quarter. CWA Asset Management Group LLC’s holdings in Apollo Global Management were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in APO. Fourth Dimension Wealth LLC bought a new stake in Apollo Global Management in the fourth quarter valued at $25,000. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management during the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the fourth quarter worth about $34,000. Farmers & Merchants Investments Inc. bought a new position in Apollo Global Management in the 1st quarter valued at about $39,000. Finally, HM Payson & Co. acquired a new position in Apollo Global Management during the 4th quarter valued at about $45,000. 77.06% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 completion of the acquisition, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. The trade was a 4,331.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction that occurred 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 $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 company insiders.

Apollo Global Management Stock Up 1.1%

NYSE APO opened at $134.61 on Friday. 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’s 50 day simple moving average is $133.31 and its 200 day simple moving average is $147.35. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market capitalization of $76.93 billion, a P/E ratio of 23.57, a PEG ratio of 1.37 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. 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 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 of this dividend was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 35.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. Citigroup reduced their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Apollo Global Management Company 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.