Waverly Advisors LLC Acquires 13,939 Shares of Apollo Global Management Inc. $APO

Waverly Advisors LLC increased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 355.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,859 shares of the financial services provider’s stock after buying an additional 13,939 shares during the period. Waverly Advisors LLC’s holdings in Apollo Global Management were worth $1,990,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Apollo Global Management by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after acquiring an additional 340,956 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Apollo Global Management by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after purchasing an additional 200,312 shares in the last quarter. Northern Trust Corp grew its stake in shares of Apollo Global Management by 1.4% during the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after purchasing an additional 62,831 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Apollo Global Management by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock valued at $475,985,000 after purchasing an additional 98,945 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

Shares of APO opened at $120.41 on Friday. The stock has a 50 day simple moving average of $125.39 and a 200 day simple moving average of $123.26. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $69.42 billion, a PE ratio of 76.70, a P/E/G ratio of 1.04 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts predict that Apollo Global Management Inc. will post 8.19 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is presently 143.31%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APO. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. TD Cowen lowered their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Royal Bank Of Canada dropped their target price on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. Morgan Stanley cut their price target on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, Barclays lifted their price objective on Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.