Procyon Advisors LLC Has $4.51 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Procyon Advisors LLC raised its holdings in Apollo Global Management, Inc. (NYSE:APO) by 10.1% during the fourth quarter, HoldingsChannel reports. The firm owned 48,427 shares of the financial services provider’s stock after acquiring an additional 4,448 shares during the quarter. Procyon Advisors LLC’s holdings in Apollo Global Management were worth $4,513,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of APO. Parkside Financial Bank & Trust boosted its holdings in shares of Apollo Global Management by 7,183.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 431 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Apollo Global Management in the 1st quarter worth about $30,000. Zions Bancorporation N.A. bought a new position in Apollo Global Management in the first quarter valued at about $30,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter valued at about $31,000. Finally, CVA Family Office LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter valued at about $34,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.6 %

NYSE:APO traded down $0.63 during trading hours on Thursday, hitting $112.95. 165,789 shares of the company traded hands, compared to its average volume of 2,434,046. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34. The company has a market cap of $64.17 billion, a PE ratio of 13.50, a PEG ratio of 0.96 and a beta of 1.64. The firm’s 50-day simple moving average is $107.87 and its 200-day simple moving average is $96.03. Apollo Global Management, Inc. has a one year low of $57.50 and a one year high of $116.55.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. Equities analysts predict that Apollo Global Management, Inc. will post 7.48 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.72 annualized dividend and a dividend yield of 1.52%. Apollo Global Management’s payout ratio is currently 20.45%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. TD Cowen assumed coverage on Apollo Global Management in a report on Thursday, January 4th. They issued an “outperform” rating and a $115.00 price objective for the company. JPMorgan Chase & Co. began coverage on Apollo Global Management in a research report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 target price for the company. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, Wells Fargo & Company raised their price objective on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.92.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 450,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Apollo Global Management news, insider Leon D. Black sold 300,000 shares of the company’s stock in a transaction that occurred on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the transaction, the insider now owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at approximately $4,716,774,418.83. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 over the last ninety days. 8.70% of the stock is currently owned by insiders.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.