Cetera Investment Advisers Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Cetera Investment Advisers lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 17.6% in the 4th quarter, HoldingsChannel reports. The firm owned 64,609 shares of the financial services provider’s stock after buying an additional 9,657 shares during the quarter. Cetera Investment Advisers’ holdings in Apollo Global Management were worth $10,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of APO. Cercano Management LLC raised its holdings in Apollo Global Management by 13,091.0% during the 4th quarter. Cercano Management LLC now owns 297,985 shares of the financial services provider’s stock valued at $49,215,000 after acquiring an additional 295,726 shares during the period. Cahill Financial Advisors Inc. bought a new position in Apollo Global Management in the fourth quarter valued at $201,000. Captrust Financial Advisors raised its holdings in shares of Apollo Global Management by 151.2% during the 4th quarter. Captrust Financial Advisors now owns 7,559 shares of the financial services provider’s stock valued at $1,249,000 after buying an additional 4,550 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $977,000. Finally, Brown Advisory Inc. lifted its stake in Apollo Global Management by 0.5% in the fourth quarter. Brown Advisory Inc. now owns 391,594 shares of the financial services provider’s stock worth $64,676,000 after purchasing an additional 1,982 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 509,000 shares of company stock valued at $72,321,680. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APO. Wells Fargo & Company dropped their price objective on Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler decreased their target price on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Raymond James started coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target for the company. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.89.

Apollo Global Management Stock Down 0.5 %

NYSE APO opened at $132.49 on Friday. The stock’s 50-day moving average price is $131.82 and its 200-day moving average price is $152.55. The company has a market capitalization of $75.58 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO) last issued 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 business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 EPS. On average, equities research analysts predict that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.51 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.54%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is presently 35.73%.

Apollo Global Management Company 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.