Forum Financial Management LP Buys 16,086 Shares of Apollo Global Management Inc. $APO

Forum Financial Management LP grew its stake in Apollo Global Management Inc. (NYSE:APO) by 276.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,903 shares of the financial services provider’s stock after acquiring an additional 16,086 shares during the quarter. Forum Financial Management LP’s holdings in Apollo Global Management were worth $2,440,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Boston Partners boosted its position in Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after purchasing an additional 1,692,532 shares in the last quarter. Focus Partners Wealth raised its holdings in Apollo Global Management by 2,560.3% in the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock worth $203,324,000 after purchasing an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Apollo Global Management by 271.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock worth $148,255,000 after purchasing an additional 748,697 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in Apollo Global Management by 879.2% in the fourth quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock worth $109,055,000 after purchasing an additional 676,411 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Apollo Global Management by 5,321.9% during the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock valued at $79,845,000 after buying an additional 541,397 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, May 8th. The Goldman Sachs Group lowered their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, Morgan Stanley cut their price target on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $151.23.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $115.03 on Tuesday. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The company has a market cap of $66.32 billion, a PE ratio of 73.27, a P/E/G ratio of 1.02 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The business has a 50-day simple moving average of $129.48 and a two-hundred day simple moving average of $127.66.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 2.0%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is presently 143.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.30% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.