Apollo Global Management Inc. $APO Position Increased by IFP Advisors Inc

IFP Advisors Inc raised its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 75.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,553 shares of the financial services provider’s stock after purchasing an additional 9,715 shares during the quarter. IFP Advisors Inc’s holdings in Apollo Global Management were worth $3,265,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in APO. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 3.0% during the third quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider’s stock worth $6,319,617,000 after buying an additional 1,377,545 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Apollo Global Management by 31.1% during the third quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after buying an additional 383,198 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in Apollo Global Management by 62.0% during the third quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider’s stock worth $132,834,000 after buying an additional 381,479 shares in the last quarter. Northern Trust Corp boosted its holdings in Apollo Global Management by 7.3% during the third quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after buying an additional 299,698 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in Apollo Global Management during the fourth quarter worth approximately $40,454,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Down 1.0%

Apollo Global Management stock opened at $130.98 on Friday. The company has a 50 day moving average price of $118.36 and a 200 day moving average price of $127.96. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $75.51 billion, a price-to-earnings ratio of 83.43, a P/E/G ratio of 1.11 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $1.82 EPS. The company’s revenue was down 8.8% on a year-over-year basis. Research analysts forecast that Apollo Global Management Inc. will post 8.32 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APO. TD Cowen reduced their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a report on Monday. UBS Group raised their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Morgan Stanley reduced their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $150.38.

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.