Robbins Farley Makes New $3.32 Million Investment in Apollo Global Management, Inc. (NYSE:APO)

Robbins Farley bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,246 shares of the financial services provider’s stock, valued at approximately $3,320,000. Apollo Global Management makes up 1.8% of Robbins Farley’s investment portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $25,000. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $34,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the 1st quarter worth approximately $39,000. Finally, HM Payson & Co. acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

APO has been the topic of a number of analyst reports. Barclays increased their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. TD Cowen cut their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Bank of America upped their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Finally, Piper Sandler cut their price target 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 analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $159.00.

Apollo Global Management Price Performance

APO stock opened at $132.16 on Friday. The company has a fifty day moving average price of $132.32 and a 200-day moving average price of $148.74. The company has a market capitalization of $75.53 billion, a P/E ratio of 18.08, a PEG ratio of 1.17 and a beta of 1.59. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. Apollo Global Management’s revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 EPS. As a group, equities analysts expect that Apollo Global Management, Inc. will post 8 EPS 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 paid a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is presently 35.73%.

About Apollo Global Management

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.