Wealthspire Advisors LLC Buys 1,778 Shares of Apollo Global Management, Inc. (NYSE:APO)

Wealthspire Advisors LLC raised its position in Apollo Global Management, Inc. (NYSE:APO) by 16.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,615 shares of the financial services provider’s stock after purchasing an additional 1,778 shares during the quarter. Wealthspire Advisors LLC’s holdings in Apollo Global Management were worth $1,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new position in Apollo Global Management in the 4th quarter worth $31,000. CVA Family Office LLC bought a new position in Apollo Global Management in the fourth quarter worth about $34,000. Blue Trust Inc. lifted its holdings in Apollo Global Management by 151.4% in the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after buying an additional 221 shares during the period. Vestmark Advisory Solutions Inc. bought a new stake in Apollo Global Management during the 4th quarter valued at approximately $36,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Apollo Global Management during the 3rd quarter worth approximately $39,000. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APO has been the topic of several research reports. Morgan Stanley lifted their price target on Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Wells Fargo & Company raised their price objective on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.62.

Insider Transactions at Apollo Global Management

In related news, insider James C. Zelter sold 150,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 transaction of $16,374,000.00. Following the completion of the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock valued at $158,226,960 over the last quarter. 8.70% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO traded down $0.08 during trading hours on Friday, hitting $112.11. The stock had a trading volume of 65,027 shares, compared to its average volume of 2,336,002. 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 12 month low of $61.98 and a 12 month high of $117.15. The firm has a market capitalization of $63.70 billion, a PE ratio of 12.42, a PEG ratio of 0.92 and a beta of 1.61. The stock has a fifty day moving average price of $111.21 and a 200 day moving average price of $100.72.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. The company had revenue of $795.00 million during the quarter, compared to analyst estimates of $823.27 million. Analysts anticipate that Apollo Global Management, Inc. will post 7.43 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s payout ratio is currently 20.49%.

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.