Checchi Capital Advisers LLC Has $4.27 Million Position in Apollo Global Management Inc. (NYSE:APO)

Checchi Capital Advisers LLC lessened its holdings in Apollo Global Management Inc. (NYSE:APO) by 25.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,187 shares of the financial services provider’s stock after selling 10,874 shares during the period. Checchi Capital Advisers LLC’s holdings in Apollo Global Management were worth $4,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Amundi grew its stake in Apollo Global Management by 13.2% during the 4th quarter. Amundi now owns 801,260 shares of the financial services provider’s stock valued at $129,788,000 after acquiring an additional 93,451 shares in the last quarter. State of Michigan Retirement System acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $20,034,000. Massachusetts Financial Services Co. MA grew its position in Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Coordinated Financial Services Inc. acquired a new position in Apollo Global Management in the 4th quarter valued at approximately $473,000. Finally, Blue Whale Capital LLP purchased a new stake in Apollo Global Management in the 4th quarter worth approximately $47,400,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $142.83 on Thursday. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a fifty day simple moving average of $135.68 and a 200 day simple moving average of $145.38. 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 market cap of $81.63 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.46 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 firm 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 14.59% and a return on equity of 13.45%. The firm’s revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the company earned $1.72 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.51 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.43%. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Analysts Set New Price Targets

Several research firms have recently commented on APO. Morgan Stanley lowered their price target on shares of 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. Wells Fargo & Company lifted their price objective on Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Raymond James Financial started coverage on Apollo Global Management in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target for the company. Finally, UBS Group lowered their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

Insider Buying and Selling

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the acquisition, the insider directly owned 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on 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 $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

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.