Mmbg Investment Advisors CO. Boosts Stake in Apollo Global Management Inc. $APO

Mmbg Investment Advisors CO. increased its position in Apollo Global Management Inc. (NYSE:APO) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,209 shares of the financial services provider’s stock after buying an additional 3,970 shares during the period. Mmbg Investment Advisors CO.’s holdings in Apollo Global Management were worth $4,084,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its position in Apollo Global Management by 99.0% during the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $29,000. Physician Wealth Advisors Inc. lifted its position in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. City Holding Co. grew its stake in Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 129 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of APO opened at $128.50 on Tuesday. The business’s 50-day moving average is $119.37 and its two-hundred day moving average is $127.97. The company has a market capitalization of $74.08 billion, a P/E ratio of 81.85, a P/E/G ratio of 1.08 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28.

Apollo Global Management (NYSE:APO) last announced its quarterly 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. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. Research analysts predict that Apollo Global Management Inc. will post 8.29 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. Apollo Global Management’s payout ratio is 143.31%.

Analyst Ratings Changes

Several research analysts recently issued reports on APO shares. The Goldman Sachs Group dropped their price objective on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. TD Cowen dropped their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Morgan Stanley dropped their target price on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Finally, Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

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.