Procyon Advisors LLC Acquires 309 Shares of Apollo Global Management, Inc. (NYSE:APO)

Procyon Advisors LLC lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,873 shares of the financial services provider’s stock after buying an additional 309 shares during the period. Procyon Advisors LLC’s holdings in Apollo Global Management were worth $4,502,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in APO. Fourth Dimension Wealth LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $25,000. Hopwood Financial Services Inc. acquired a new position in Apollo Global Management in the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management during the fourth quarter valued at approximately $34,000. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $37,000. Finally, HM Payson & Co. bought a new stake in shares of Apollo Global Management in the fourth quarter worth about $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer now owns 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

NYSE:APO opened at $130.19 on Friday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a 50 day simple moving average of $130.75 and a two-hundred day simple moving average of $150.14. The company has a market capitalization of $74.40 billion, a PE ratio of 17.81, a P/E/G ratio of 1.17 and a beta of 1.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

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 the consensus estimate of $1.84 by ($0.02). The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. Apollo Global Management’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. Research analysts anticipate that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.57%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. Bank of America upped their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. UBS Group reduced their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Finally, Piper Sandler dropped their price target on shares of 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

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.