Zhang Financial LLC Increases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Zhang Financial LLC raised its position in Apollo Global Management, Inc. (NYSE:APO) by 55.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,627 shares of the financial services provider’s stock after purchasing an additional 6,319 shares during the period. Zhang Financial LLC’s holdings in Apollo Global Management were worth $1,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. Vanguard Group Inc. grew its position in shares of Apollo Global Management by 87.8% during the first quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock worth $2,316,818,000 after buying an additional 17,476,830 shares in the last quarter. FMR LLC raised its position in Apollo Global Management by 18.9% in the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after acquiring an additional 1,584,201 shares in the last quarter. State Street Corp grew its holdings in Apollo Global Management by 2.0% in the first quarter. State Street Corp now owns 9,505,487 shares of the financial services provider’s stock valued at $600,360,000 after purchasing an additional 184,378 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Apollo Global Management by 1.0% in the first quarter. Clearbridge Investments LLC now owns 7,859,123 shares of the financial services provider’s stock valued at $487,187,000 after purchasing an additional 78,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Apollo Global Management by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,808,500 shares of the financial services provider’s stock valued at $493,187,000 after acquiring an additional 827,935 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup raised their price target on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Keefe, Bruyette & Woods boosted their price objective 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. Morgan Stanley lifted their target price on Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. BMO Capital Markets lifted their target price on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, TD Cowen assumed coverage on Apollo Global Management in a research note on Thursday, January 4th. They set an “outperform” rating and a $115.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $113.25.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value 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 approximately $4,716,774,418.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Martin Kelly sold 14,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total value of $1,527,260.00. Following the completion of the transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leon D. Black sold 450,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The disclosure for this sale can be found here. Insiders sold a total of 1,426,000 shares of company stock valued at $158,226,960 in the last quarter. Corporate insiders own 8.70% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE APO traded down $0.16 during trading hours on Friday, hitting $107.14. 1,122,601 shares of the company’s stock were exchanged, compared to its average volume of 2,346,260. Apollo Global Management, Inc. has a 1-year low of $57.50 and a 1-year high of $117.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $60.87 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.90 and a beta of 1.63. The company’s 50-day moving average price is $111.22 and its 200-day moving average price is $98.28.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. On average, sell-side analysts expect that Apollo Global Management, Inc. will post 7.44 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.72 annualized dividend and a yield of 1.61%. Apollo Global Management’s dividend payout ratio (DPR) is 20.45%.

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.