Apollon Wealth Management LLC Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Apollon Wealth Management LLC increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,712 shares of the financial services provider’s stock after purchasing an additional 419 shares during the quarter. Apollon Wealth Management LLC’s holdings in Apollo Global Management were worth $1,557,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APO. Cambridge Investment Research Advisors Inc. lifted its stake in Apollo Global Management by 3.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,215 shares of the financial services provider’s stock worth $3,161,000 after purchasing an additional 1,334 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Apollo Global Management by 2.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 95,478 shares of the financial services provider’s stock worth $8,570,000 after purchasing an additional 1,860 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Apollo Global Management by 20.5% during the third quarter. Stratos Wealth Partners LTD. now owns 6,874 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 1,170 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Apollo Global Management by 10.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 153,082 shares of the financial services provider’s stock worth $13,741,000 after purchasing an additional 13,885 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Apollo Global Management during the third quarter worth approximately $1,178,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded down $1.76 during trading hours on Wednesday, hitting $111.42. 439,226 shares of the company were exchanged, compared to its average volume of 2,341,921. The business has a 50-day moving average of $111.17 and a 200-day moving average of $100.56. The stock has a market capitalization of $63.30 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.92 and a beta of 1.61. 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, Inc. has a 1 year low of $59.89 and a 1 year high of $117.15.

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. The firm had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. As a group, analysts expect that Apollo Global Management, Inc. will post 7.43 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.85 annualized dividend and a yield of 1.66%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Analyst Upgrades and Downgrades

APO has been the subject of a number of research reports. Wells Fargo & Company boosted their price objective on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. 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. 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. Barclays decreased their price objective on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, 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. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.31.

Insiders Place Their Bets

In other Apollo Global Management news, 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 value of $16,374,000.00. Following the completion of the transaction, the insider now owns 1,454,588 shares in the company, valued at $158,782,826.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction 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 owns 366,572 shares in the company, valued at $39,989,339.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James C. Zelter sold 150,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $109.16, for a total value of $16,374,000.00. Following the completion of the transaction, the insider now owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,426,000 shares of company stock worth $158,226,960. 8.70% of the stock is owned by corporate insiders.

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.