Picton Mahoney Asset Management Grows Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Picton Mahoney Asset Management boosted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,996 shares of the financial services provider’s stock after purchasing an additional 2,064 shares during the quarter. Picton Mahoney Asset Management’s holdings in Apollo Global Management were worth $17,520,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of APO. FMR LLC increased its holdings in Apollo Global Management by 18.9% in the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after buying an additional 1,584,201 shares during the last quarter. PointState Capital LP purchased a new position in shares of Apollo Global Management in the 3rd quarter valued at about $98,382,000. Westfield Capital Management Co. LP acquired a new stake in shares of Apollo Global Management during the 3rd quarter worth about $73,840,000. Keystone Investors PTE Ltd. purchased a new stake in Apollo Global Management during the third quarter worth approximately $54,355,000. Finally, Federated Hermes Inc. boosted its holdings in Apollo Global Management by 45.6% in the third quarter. Federated Hermes Inc. now owns 1,351,609 shares of the financial services provider’s stock valued at $121,320,000 after purchasing an additional 423,538 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total value of $1,527,260.00. Following the sale, the chief financial officer now owns 366,572 shares in the company, valued at approximately $39,989,339.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apollo Global Management news, insider Whitney Chatterjee sold 12,000 shares of Apollo Global Management stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the completion of the transaction, the insider now owns 123,901 shares in the company, valued at $13,765,401.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the completion of the sale, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,426,000 shares of company stock worth $158,226,960. 8.70% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO stock traded up $1.70 during mid-day trading on Tuesday, hitting $113.18. The stock had a trading volume of 3,273,622 shares, compared to its average volume of 2,360,050. Apollo Global Management, Inc. has a fifty-two week low of $59.89 and a fifty-two week high of $117.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54. The company’s 50-day simple moving average is $111.17 and its 200-day simple moving average is $100.56. The firm has a market cap of $64.30 billion, a PE ratio of 12.53, a PEG ratio of 0.92 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. Sell-side analysts anticipate that Apollo Global Management, Inc. will post 7.43 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.463 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.64%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s payout ratio is currently 19.05%.

Wall Street Analysts Forecast Growth

APO has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Barclays reduced their price target on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Citigroup lifted their target price on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Wells Fargo & Company upped their target price on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.31.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.