Stock Traders Buy Large Volume of Apollo Global Management Put Options (NYSE:APO)

Apollo Global Management, Inc. (NYSE:APO) was the target of some unusual options trading activity on Thursday. Stock traders bought 8,331 put options on the stock. This is an increase of 7% compared to the average volume of 7,790 put options.

Apollo Global Management Trading Up 4.5 %

Apollo Global Management stock traded up $4.87 during midday trading on Thursday, hitting $112.64. 2,076,159 shares of the stock were exchanged, compared to its average volume of 2,311,618. Apollo Global Management has a fifty-two week low of $57.50 and a fifty-two week high of $117.15. The stock has a market capitalization of $64.00 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.91 and a beta of 1.61. The stock’s 50-day simple moving average is $111.14 and its 200 day simple moving average is $99.73. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The firm had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. On average, equities analysts anticipate that Apollo Global Management will post 7.43 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, February 16th. Apollo Global Management’s dividend payout ratio is presently 20.45%.

Analysts Set New Price Targets

APO has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods increased their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Morgan Stanley increased their target price on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Finally, TD Cowen began coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They issued an “outperform” rating and a $115.00 target price for the company. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $113.33.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the sale, the insider now directly owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the sale, the insider now directly owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James C. Zelter sold 150,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the sale, the insider now directly owns 1,454,588 shares in the company, valued at $158,782,826.08. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock valued at $158,226,960 in the last ninety days. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of institutional investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC increased its position in shares of Apollo Global Management by 2.8% during the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 94 shares during the last quarter. Zhang Financial LLC boosted its stake in shares of Apollo Global Management by 0.6% in the first quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock valued at $1,993,000 after purchasing an additional 97 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Apollo Global Management by 8.5% in the first quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 102 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Apollo Global Management by 0.9% in the first quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock valued at $1,295,000 after purchasing an additional 104 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in shares of Apollo Global Management by 4.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 107 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Global Management

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.