Wellington Shields & Co. LLC Has $2.30 Million Stock Position in Apollo Global Management Inc. (NYSE:APO)

Wellington Shields & Co. LLC raised its position in shares of Apollo Global Management Inc. (NYSE:APO) by 7.8% in the first quarter, HoldingsChannel reports. The fund owned 16,816 shares of the financial services provider’s stock after acquiring an additional 1,210 shares during the period. Wellington Shields & Co. LLC’s holdings in Apollo Global Management were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC raised its holdings in Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. ORG Partners LLC raised its holdings in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management during the 1st quarter valued at $39,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 172 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer directly owned 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

Analysts Set New Price Targets

APO has been the subject of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Raymond James Financial started coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective for the company. Morgan Stanley reduced their target price on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI boosted their price target on Apollo Global Management from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.00.

Apollo Global Management Stock Performance

NYSE APO opened at $147.86 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $139.90 and a 200 day simple moving average of $142.59. Apollo Global Management Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a market cap of $84.50 billion, a P/E ratio of 25.89, a PEG ratio of 1.67 and a beta of 1.59.

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 analysts’ consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. Apollo Global Management’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 EPS. Sell-side analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is currently 35.73%.

Apollo Global Management Profile

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.