Elevation Point Wealth Partners LLC Boosts Stock Holdings in Apollo Global Management Inc. $APO

Elevation Point Wealth Partners LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 167.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,942 shares of the financial services provider’s stock after purchasing an additional 4,342 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Apollo Global Management were worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APO. Platform Technology Partners increased its stake in shares of Apollo Global Management by 3.9% during the first quarter. Platform Technology Partners now owns 64,877 shares of the financial services provider’s stock worth $7,229,000 after buying an additional 2,455 shares during the period. Sound Income Strategies LLC lifted its stake in Apollo Global Management by 2,623.5% in the first quarter. Sound Income Strategies LLC now owns 926 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 892 shares during the last quarter. Stock Yards Bank & Trust Co. grew its holdings in Apollo Global Management by 0.3% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 131,452 shares of the financial services provider’s stock worth $14,646,000 after acquiring an additional 367 shares in the last quarter. USS Investment Management Ltd grew its holdings in Apollo Global Management by 3.8% during the 1st quarter. USS Investment Management Ltd now owns 69,514 shares of the financial services provider’s stock worth $7,745,000 after acquiring an additional 2,559 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of Apollo Global Management by 12.5% in the 1st quarter. IFM Investors Pty Ltd now owns 101,026 shares of the financial services provider’s stock valued at $11,256,000 after purchasing an additional 11,202 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APO. Barclays boosted their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. UBS Group lifted their price target on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. The Goldman Sachs Group dropped their price objective on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley cut their target price on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.23.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO stock opened at $119.32 on Wednesday. The stock’s 50-day moving average is $128.64 and its two-hundred day moving average is $126.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The firm has a market cap of $68.79 billion, a price-to-earnings ratio of 76.00, a PEG ratio of 1.05 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm earned $1.82 EPS. The business’s revenue was down 8.8% on a year-over-year basis. Analysts predict that Apollo Global Management Inc. will post 8.27 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is presently 143.31%.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.