CCG Wealth Management LLC Invests $327,000 in Apollo Global Management, Inc. (NYSE:APO)

CCG Wealth Management LLC purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,904 shares of the financial services provider’s stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CWA Asset Management Group LLC raised its stake in shares of Apollo Global Management by 2.8% during the 4th quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 94 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Apollo Global Management by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 107 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Apollo Global Management by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,775 shares of the financial services provider’s stock valued at $2,588,000 after acquiring an additional 117 shares during the last quarter. Compass Wealth Management LLC increased its holdings in shares of Apollo Global Management by 48.7% during the 1st quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 146 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Apollo Global Management by 3.0% during the 4th quarter. CWM LLC now owns 5,727 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 169 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of APO stock traded up $0.67 during mid-day trading on Monday, reaching $118.74. The stock had a trading volume of 3,010,253 shares, compared to its average volume of 2,437,556. The firm’s 50 day simple moving average is $114.34 and its 200 day simple moving average is $108.09. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Apollo Global Management, Inc. has a one year low of $73.77 and a one year high of $119.69. The firm has a market cap of $67.46 billion, a PE ratio of 13.09, a P/E/G ratio of 0.98 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. On average, analysts forecast that Apollo Global Management, Inc. will post 7.14 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.463 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the transaction, the chief financial officer now owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI increased their price objective on Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Jefferies Financial Group lowered their price objective on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Keefe, Bruyette & Woods increased their price objective on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their price objective on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.62.

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.