12,831 Shares in Apollo Global Management Inc. $APO Purchased by Equitable Trust Co.

Equitable Trust Co. purchased a new stake in Apollo Global Management Inc. (NYSE:APO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,831 shares of the financial services provider’s stock, valued at approximately $1,710,000.

A number of other hedge funds also recently modified their holdings of the company. Delos Wealth Advisors LLC bought a new stake in shares of Apollo Global Management during the second quarter valued at approximately $25,000. Atlantic Union Bankshares Corp boosted its stake in Apollo Global Management by 99.0% during the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Apollo Global Management in the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. raised its stake in shares of Apollo Global Management by 1,123.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 208 shares of the financial services provider’s stock valued at $28,000 after buying an additional 191 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $30,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Apollo Global Management from $180.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Apollo Global Management in a report on Tuesday, February 10th. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, February 12th. Argus upgraded Apollo Global Management to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Apollo Global Management in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $161.27.

Apollo Global Management Trading Down 5.1%

APO stock opened at $113.58 on Tuesday. The business has a fifty day moving average price of $138.03 and a 200 day moving average price of $134.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.31 and a quick ratio of 1.49. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $157.28. The stock has a market capitalization of $65.92 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.04 and a beta of 1.57.

Apollo Global Management (NYSE:APO) last announced its earnings results on Monday, February 9th. The financial services provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.04 by $0.43. Apollo Global Management had a return on equity of 15.25% and a net margin of 10.90%.The company had revenue of $9.86 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $2.39 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 19th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.8%. Apollo Global Management’s payout ratio is currently 36.96%.

Insider Activity

In other news, CFO Martin Kelly sold 6,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction of $788,460.00. Following the sale, the chief financial officer directly owned 325,604 shares of the company’s stock, valued at $42,787,621.64. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.50% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.