Ethic Inc. Raises Position in Apollo Global Management, Inc. (NYSE:APO)

Ethic Inc. increased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 6.6% in the 4th quarter, HoldingsChannel reports. The firm owned 43,094 shares of the financial services provider’s stock after purchasing an additional 2,660 shares during the period. Ethic Inc.’s holdings in Apollo Global Management were worth $7,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Apollo Global Management during the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $34,000. Byrne Asset Management LLC acquired a new position in Apollo Global Management during the fourth quarter worth $37,000. Retirement Wealth Solutions LLC purchased a new position in Apollo Global Management in the fourth quarter worth $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $132.49 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $75.58 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The company has a 50-day simple moving average of $131.82 and a 200-day simple moving average of $152.48. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO) last released its earnings results 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 return on equity of 13.97% and a net margin of 17.53%. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. During the same period in the previous year, the firm posted $1.72 earnings per share. The firm’s revenue was down 21.2% on a year-over-year basis. On average, equities analysts anticipate that Apollo Global Management, Inc. will post 8 earnings per share 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. Investors of record on Friday, May 16th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.54%. Apollo Global Management’s dividend payout ratio is 35.73%.

Analyst Upgrades and Downgrades

APO has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Monday. Bank of America lifted their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. Piper Sandler lowered their price target on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, UBS Group reduced their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.89.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 373,164 shares of the company’s stock, valued at $49,470,351.48. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 509,000 shares of company stock valued at $72,321,680. Insiders own 8.50% of the company’s stock.

Apollo Global Management 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.