MidFirst Bank Buys Shares of 14,813 Apollo Global Management Inc. $APO

MidFirst Bank purchased a new stake in Apollo Global Management Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,813 shares of the financial services provider’s stock, valued at approximately $2,144,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after acquiring an additional 340,956 shares during the last quarter. Geode Capital Management LLC increased its stake in Apollo Global Management by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp raised its position in Apollo Global Management by 1.4% in the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after purchasing an additional 62,831 shares during the period. Legal & General Group Plc raised its position in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock valued at $475,985,000 after purchasing an additional 98,945 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APO. Argus upgraded Apollo Global Management to a “strong-buy” rating in a report on Thursday, February 19th. Evercore restated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. TD Cowen lowered their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, BMO Capital Markets dropped their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.23.

Apollo Global Management Trading Down 0.8%

APO opened at $137.85 on Friday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The business has a fifty day simple moving average of $127.53 and a 200-day simple moving average of $128.17. The firm has a market cap of $79.47 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

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

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.6%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is presently 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.