Great Lakes Retirement Inc. Raises Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Great Lakes Retirement Inc. lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,194 shares of the financial services provider’s stock after acquiring an additional 698 shares during the period. Great Lakes Retirement Inc.’s holdings in Apollo Global Management were worth $670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Apollo Global Management by 7,183.3% in the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock worth $27,000 after buying an additional 431 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Apollo Global Management during the 1st quarter valued at about $30,000. Zions Bancorporation N.A. purchased a new stake in Apollo Global Management in the 1st quarter worth about $30,000. Sugarloaf Wealth Management LLC bought a new position in Apollo Global Management in the 4th quarter valued at $31,000. Finally, CVA Family Office LLC purchased a new stake in Apollo Global Management in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE:APO traded down $1.08 during midday trading on Thursday, reaching $112.50. 1,173,184 shares of the company’s stock traded hands, compared to its average volume of 2,448,173. The company has a market cap of $63.92 billion, a P/E ratio of 13.50, a PEG ratio of 0.96 and a beta of 1.64. The company has a fifty day simple moving average of $107.87 and a two-hundred day simple moving average of $96.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54. Apollo Global Management, Inc. has a 1 year low of $57.50 and a 1 year high of $116.55.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $823.27 million. Equities analysts predict that Apollo Global Management, Inc. will post 7.48 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, February 16th. This represents a $1.72 annualized dividend and a yield of 1.53%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.45%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APO shares. Barclays lifted their price objective on shares of Apollo Global Management from $118.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Citigroup upped their price objective on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Morgan Stanley boosted their target price on shares of Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. began coverage on Apollo Global Management in a research report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 target price on the stock. Finally, TD Cowen assumed coverage on shares of Apollo Global Management in a research note on Thursday, January 4th. They set an “outperform” rating and a $115.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.92.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 450,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the transaction, the insider now directly owns 42,604,773 shares in the company, valued at $4,716,774,418.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Whitney Chatterjee sold 12,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $111.10, for a total transaction of $1,333,200.00. Following the sale, the insider now owns 123,901 shares of the company’s stock, valued at approximately $13,765,401.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 450,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 over the last 90 days. 8.70% of the stock is currently owned by corporate insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.