Woodline Partners LP Acquires New Shares in Apollo Global Management, Inc. (NYSE:APO)

Woodline Partners LP bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 26,844 shares of the financial services provider’s stock, valued at approximately $4,434,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI boosted its stake in shares of Apollo Global Management by 12.4% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 539,726 shares of the financial services provider’s stock valued at $89,141,000 after purchasing an additional 59,665 shares in the last quarter. Vident Advisory LLC boosted its position in Apollo Global Management by 2.6% during the 4th quarter. Vident Advisory LLC now owns 9,026 shares of the financial services provider’s stock valued at $1,491,000 after acquiring an additional 230 shares in the last quarter. Visionary Wealth Advisors boosted its position in Apollo Global Management by 10.8% during the 4th quarter. Visionary Wealth Advisors now owns 3,362 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 328 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 71 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in shares of Apollo Global Management in the 4th quarter worth $2,899,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays lifted their target price on Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. UBS Group cut their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Piper Sandler reduced their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen cut their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Apollo Global Management Stock Performance

NYSE APO opened at $130.97 on Friday. The firm has a market capitalization of $74.71 billion, a P/E ratio of 17.92, a PEG ratio of 1.17 and a beta of 1.67. The stock has a 50-day simple moving average of $132.93 and a two-hundred day simple moving average of $152.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week 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 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period last year, the business earned $1.72 earnings per share. The firm’s revenue was down 21.2% on a year-over-year basis. On average, equities 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 announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.56%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, May 16th. Apollo Global Management’s payout ratio is 35.73%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now 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 position. The disclosure for this purchase can be found here. Company insiders own 8.20% of the company’s stock.

About Apollo Global Management

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.