EverSource Wealth Advisors LLC Acquires 67,261 Shares of Apollo Global Management Inc. $APO

EverSource Wealth Advisors LLC boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 33.5% during the 4th quarter, Holdings Channel reports. The fund owned 268,028 shares of the financial services provider’s stock after acquiring an additional 67,261 shares during the quarter. Apollo Global Management comprises 1.4% of EverSource Wealth Advisors LLC’s portfolio, making the stock its 10th largest holding. EverSource Wealth Advisors LLC’s holdings in Apollo Global Management were worth $38,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp increased its position in Apollo Global Management by 99.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at approximately $29,000. Physician Wealth Advisors Inc. increased its position in Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 96 shares during the period. City Holding Co. increased its position in Apollo Global Management by 391.9% in the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 243 shares during the period. Finally, Center for Financial Planning Inc. acquired a new stake in Apollo Global Management in the 3rd quarter valued at approximately $50,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the topic of several analyst reports. Barclays raised their target price on Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Morgan Stanley lowered their price target 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 reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. UBS Group lifted their price target on Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, TD Cowen lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

Apollo Global Management Stock Performance

APO opened at $128.50 on Friday. The firm has a market cap of $74.08 billion, a PE ratio of 81.85, a P/E/G ratio of 1.10 and a beta of 1.52. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $118.81 and a 200-day simple moving average of $127.96. 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 released its quarterly earnings data 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 business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.82 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.29 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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