Waverly Advisors LLC Buys 13,939 Shares of Apollo Global Management Inc. $APO

Waverly Advisors LLC lifted its position in Apollo Global Management Inc. (NYSE:APO) by 355.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,859 shares of the financial services provider’s stock after buying an additional 13,939 shares during the quarter. Waverly Advisors LLC’s holdings in Apollo Global Management were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter worth $29,000. MBM Wealth Consultants LLC bought a new stake in Apollo Global Management during the first quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. boosted its holdings in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 213 shares during the period. Osbon Capital Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at about $36,000. Finally, Physician Wealth Advisors Inc. grew its position in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Wall Street Zen downgraded Apollo Global Management from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. BMO Capital Markets cut their price target on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a report on Monday, July 13th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, Morgan Stanley lowered their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Stock Up 0.5%

Shares of NYSE APO opened at $120.41 on Friday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. 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 fifty day moving average of $125.39 and a two-hundred day moving average of $123.26. The stock has a market cap of $69.42 billion, a PE ratio of 76.70, a PEG ratio of 1.04 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s payout ratio is currently 143.31%.

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.