Farther Finance Advisors LLC Has $282,000 Stock Position in Apollo Global Management Inc. (NYSE:APO)

Farther Finance Advisors LLC decreased its position in Apollo Global Management Inc. (NYSE:APO) by 44.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,040 shares of the financial services provider’s stock after selling 1,621 shares during the period. Farther Finance Advisors LLC’s holdings in Apollo Global Management were worth $282,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Apollo Global Management by 36.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after purchasing an additional 1,739,807 shares during the period. Northern Trust Corp grew its stake in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after purchasing an additional 1,460,689 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after purchasing an additional 1,094,464 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock opened at $132.39 on Wednesday. The business’s 50-day moving average price is $132.87 and its two-hundred day moving average price is $147.99. 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 cap of $75.66 billion, a PE ratio of 23.19, a P/E/G ratio of 1.38 and a beta of 1.59. 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 posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business’s revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share 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 represents a $2.04 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management’s payout ratio is 35.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Cowen lowered their price objective on 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. Bank of America upped their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Wells Fargo & Company upped their price objective on Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Morgan Stanley decreased their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Finally, Raymond James Financial began coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the company’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.