Wealthfront Advisers LLC Boosts Stock Position in Apollo Global Management Inc. $APO

Wealthfront Advisers LLC grew its position in shares of Apollo Global Management Inc. (NYSE:APO) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,326 shares of the financial services provider’s stock after purchasing an additional 9,513 shares during the quarter. Wealthfront Advisers LLC’s holdings in Apollo Global Management were worth $6,276,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the fourth quarter worth approximately $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the first quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. raised its stake in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $36,000. Finally, Physician Wealth Advisors Inc. lifted its holdings in shares of 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 worth $38,000 after acquiring an additional 96 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $120.51 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $156.89. The firm has a market cap of $69.48 billion, a PE ratio of 76.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. The business has a 50 day moving average price of $127.52 and a 200-day moving average price of $125.06.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts predict that Apollo Global Management Inc. will post 8.23 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 29th. Shareholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s payout ratio is 143.31%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a report on Friday, May 8th. BMO Capital Markets lowered their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada cut their price target on shares of Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. TD Cowen cut their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Morgan Stanley decreased their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Insider Activity

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 value of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.30% of the company’s stock.

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.