Merrion Investment Management Co LLC Has $832,000 Stock Holdings in Apollo Global Management Inc. (NYSE:APO)

Merrion Investment Management Co LLC lowered its position in shares of Apollo Global Management Inc. (NYSE:APO) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,075 shares of the financial services provider’s stock after selling 500 shares during the quarter. Merrion Investment Management Co LLC’s holdings in Apollo Global Management were worth $832,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the 4th quarter valued at $25,000. Hopwood Financial Services Inc. bought a new position in shares of Apollo Global Management in the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at about $34,000. HM Payson & Co. acquired a new position in Apollo Global Management during the 4th quarter worth about $45,000. Finally, Farmers & Merchants Investments Inc. acquired a new position in Apollo Global Management during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of 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. Wells Fargo & Company raised 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. TD Cowen dropped their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Piper Sandler lowered their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.00.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $133.02 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $76.02 billion, a P/E ratio of 23.30, a PEG ratio of 1.37 and a beta of 1.59. The business has a 50-day moving average of $132.96 and a 200-day moving average of $147.89. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.53%. Apollo Global Management’s payout ratio is 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.