Procyon Advisors LLC Buys 4,448 Shares of Apollo Global Management, Inc. (NYSE:APO)

Procyon Advisors LLC increased its position in Apollo Global Management, Inc. (NYSE:APO) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,427 shares of the financial services provider’s stock after purchasing an additional 4,448 shares during the quarter. Procyon Advisors LLC’s holdings in Apollo Global Management were worth $4,513,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $31,000. CVA Family Office LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth $34,000. Parkside Financial Bank & Trust lifted its stake in shares of Apollo Global Management by 7,183.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 431 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in Apollo Global Management during the third quarter valued at about $39,000. Finally, Sunbelt Securities Inc. purchased a new position in Apollo Global Management in the first quarter valued at about $30,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Whitney Chatterjee sold 12,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the sale, the insider now directly owns 123,901 shares in the company, valued at $13,765,401.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Whitney Chatterjee sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the completion of the sale, the insider now owns 123,901 shares in the company, valued at $13,765,401.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $109.09, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 1,426,000 shares of company stock valued at $158,226,960. 8.70% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

NYSE:APO traded down $0.63 during midday trading on Thursday, hitting $112.95. The company’s stock had a trading volume of 165,789 shares, compared to its average volume of 2,434,046. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54. Apollo Global Management, Inc. has a fifty-two week low of $57.50 and a fifty-two week high of $116.55. The firm’s 50 day moving average is $107.87 and its 200-day moving average is $96.03. The firm has a market cap of $64.17 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.96 and a beta of 1.64.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. Equities analysts anticipate that Apollo Global Management, Inc. will post 7.48 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, February 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.52%. Apollo Global Management’s payout ratio is 20.45%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APO. Barclays raised their price target on shares of Apollo Global Management from $118.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, February 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. Morgan Stanley boosted their target price on Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. began coverage on Apollo Global Management in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $122.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $107.92.

Apollo Global Management Profile

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.