Visionary Wealth Advisors Acquires 328 Shares of Apollo Global Management, Inc. (NYSE:APO)

Visionary Wealth Advisors lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,362 shares of the financial services provider’s stock after acquiring an additional 328 shares during the period. Visionary Wealth Advisors’ holdings in Apollo Global Management were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in APO. Ellevest Inc. increased its position in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after buying an additional 67 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after buying an additional 71 shares in the last quarter. Vivaldi Capital Management LP increased its position in Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock valued at $566,000 after buying an additional 71 shares in the last quarter. Tower Wealth Partners Inc. increased its position in Apollo Global Management by 4.4% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after buying an additional 74 shares in the last quarter. Finally, Colonial Trust Co SC boosted its stake in Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 79 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler cut their price target on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Bank of America lifted their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Keefe, Bruyette & Woods cut their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, Citigroup cut their price target on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $157.89.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. The trade was a 1.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $139.19 on Wednesday. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $133.29 and its 200 day simple moving average is $152.49. The company has a market cap of $79.41 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. During the same quarter in the previous year, the company posted $1.72 EPS. Apollo Global Management’s revenue for the quarter was down 21.2% on a year-over-year basis. Sell-side analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.47%. Apollo Global Management’s payout ratio is presently 35.73%.

About Apollo Global Management

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.