24,246 Shares in Apollo Global Management, Inc. (NYSE:APO) Bought by Robbins Farley

Robbins Farley bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the first quarter, Holdings Channel.com reports. The fund bought 24,246 shares of the financial services provider’s stock, valued at approximately $3,320,000. Apollo Global Management makes up about 1.8% of Robbins Farley’s holdings, making the stock its 27th largest holding.

Other hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in Apollo Global Management in the fourth quarter worth $25,000. Hopwood Financial Services Inc. acquired a new stake in Apollo Global Management in the fourth quarter worth $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the fourth quarter worth $34,000. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management in the first quarter worth $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management in the fourth quarter worth $45,000. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Down 4.3%

APO opened at $132.16 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $75.53 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.17 and a beta of 1.59. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company’s 50-day moving average price is $132.32 and its two-hundred day moving average price is $148.74.

Apollo Global Management (NYSE:APO) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm’s revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, equities analysts expect that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 35.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group reduced their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 4th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Piper Sandler reduced their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.00.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.