TCG Advisory Services LLC Acquires New Stake in Apollo Global Management, Inc. (NYSE:APO)

TCG Advisory Services LLC acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, HoldingsChannel reports. The fund acquired 150,983 shares of the financial services provider’s stock, valued at approximately $14,070,000. Apollo Global Management makes up about 1.0% of TCG Advisory Services LLC’s holdings, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APO. Sugarloaf Wealth Management LLC purchased a new position in Apollo Global Management in the 4th quarter valued at $31,000. Blue Trust Inc. boosted its position in shares of Apollo Global Management by 151.4% during the 4th quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 221 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter worth $34,000. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Apollo Global Management during the 4th quarter worth $36,000. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Apollo Global Management during the 3rd quarter worth $39,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO stock traded down $2.61 during trading on Friday, hitting $109.46. The stock had a trading volume of 3,300,741 shares, compared to its average volume of 2,078,355. The company’s 50 day moving average price is $111.11 and its two-hundred day moving average price is $100.05. Apollo Global Management, Inc. has a 1-year low of $57.50 and a 1-year high of $117.15. The stock has a market cap of $62.19 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54.

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

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.85 annualized dividend and a yield of 1.69%. Apollo Global Management’s payout ratio is 19.05%.

Insider Buying and Selling at Apollo Global Management

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 stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the completion of the sale, the insider now owns 123,901 shares in the company, valued at approximately $13,765,401.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Whitney Chatterjee sold 12,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the completion of the sale, the insider now owns 123,901 shares in the company, valued at approximately $13,765,401.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 14,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock worth $158,226,960 in the last 90 days. 8.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APO. Citigroup boosted their target price on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Keefe, Bruyette & Woods boosted their target price on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their target price on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their price target on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.