Eagle Rock Investment Company LLC Increases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Eagle Rock Investment Company LLC lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 56.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,552 shares of the financial services provider’s stock after purchasing an additional 12,475 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Apollo Global Management were worth $4,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of APO. Ellevest Inc. grew its holdings in shares of Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 67 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Apollo Global Management by 2.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 71 shares during the period. Vivaldi Capital Management LP boosted its stake in Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock valued at $566,000 after buying an additional 71 shares during the last quarter. Tower Wealth Partners Inc. boosted its stake in Apollo Global Management by 4.4% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after buying an additional 74 shares during the last quarter. Finally, Colonial Trust Co SC boosted its stake in Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider’s stock valued at $58,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $133.45 on Friday. The stock has a 50-day moving average of $130.66 and a two-hundred day moving average of $149.90. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $76.27 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.17 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same period last year, the firm earned $1.72 EPS. As a group, research analysts predict that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.51 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.53%. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APO shares. UBS Group decreased their price objective on 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. Morgan Stanley decreased their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Barclays raised their price objective on Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Bank of America raised their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Finally, TD Cowen dropped their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business’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 transaction of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by insiders.

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.