Prime Capital Investment Advisors LLC Buys 2,575 Shares of Apollo Global Management, Inc. (NYSE:APO)

Prime Capital Investment Advisors LLC boosted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 39.9% during the fourth quarter, Holdings Channel reports. The fund owned 9,034 shares of the financial services provider’s stock after acquiring an additional 2,575 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Apollo Global Management were worth $842,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Apollo Global Management by 87.8% during the 1st quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock valued at $2,316,818,000 after purchasing an additional 17,476,830 shares during the period. FMR LLC lifted its position in Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after purchasing an additional 1,584,201 shares during the period. State Street Corp lifted its position in Apollo Global Management by 2.0% during the 1st quarter. State Street Corp now owns 9,505,487 shares of the financial services provider’s stock valued at $600,360,000 after purchasing an additional 184,378 shares during the period. Clearbridge Investments LLC lifted its position in Apollo Global Management by 1.0% during the 1st quarter. Clearbridge Investments LLC now owns 7,859,123 shares of the financial services provider’s stock valued at $487,187,000 after purchasing an additional 78,795 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Apollo Global Management by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,808,500 shares of the financial services provider’s stock valued at $493,187,000 after purchasing an additional 827,935 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APO. Wells Fargo & Company upped their target price on shares of Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. TD Cowen began coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They issued an “outperform” rating and a $115.00 price target on the stock. BMO Capital Markets increased their price target on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Citigroup increased their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus price target of $110.62.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 14,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Martin Kelly sold 14,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 123,901 shares of the company’s stock, valued at $13,765,401.10. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 in the last ninety days. 8.70% of the stock is currently owned by corporate insiders.

Apollo Global Management Price Performance

NYSE APO opened at $111.86 on Wednesday. The business has a 50 day simple moving average of $110.37 and a 200 day simple moving average of $97.45. Apollo Global Management, Inc. has a 52-week low of $57.50 and a 52-week high of $117.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market cap of $63.55 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.97 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Analysts anticipate that Apollo Global Management, Inc. will post 7.48 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, February 16th. This represents a $1.72 annualized dividend and a dividend yield of 1.54%. Apollo Global Management’s dividend payout ratio is currently 20.45%.

About Apollo Global Management

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.