Meitav Investment House Ltd. Grows Position in Apollo Global Management Inc. $APO

Meitav Investment House Ltd. increased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 43.8% in the first quarter, Holdings Channel.com reports. The fund owned 29,931 shares of the financial services provider’s stock after purchasing an additional 9,117 shares during the period. Meitav Investment House Ltd.’s holdings in Apollo Global Management were worth $3,335,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the 4th quarter worth $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the first quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth about $36,000. Finally, Physician Wealth Advisors Inc. lifted its position in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after buying an additional 96 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APO shares. Barclays increased their price target on Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. UBS Group upped their price objective on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group lowered their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, TD Cowen cut 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, May 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.23.

Apollo Global Management Trading Down 2.1%

Shares of APO traded down $2.62 during mid-day trading on Tuesday, reaching $119.55. 1,057,812 shares of the company’s stock traded hands, compared to its average volume of 4,699,488. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s 50-day moving average is $128.74 and its two-hundred day moving average is $126.64. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The stock has a market cap of $68.92 billion, a P/E ratio of 75.87, a P/E/G ratio of 1.02 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $1.82 EPS. Apollo Global Management’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts forecast that Apollo Global Management Inc. will post 8.26 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is 143.31%.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.30% of the company’s stock.

Apollo Global Management Company Profile

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.