Independent Financial Group LLC Purchases New Holdings in Apollo Global Management Inc. $APO

Independent Financial Group LLC acquired a new position in Apollo Global Management Inc. (NYSE:APO) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,831 shares of the financial services provider’s stock, valued at approximately $650,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APO. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. HSBC began coverage on shares of Apollo Global Management in a research report on Monday. They issued a “buy” rating and a $145.00 target price for the company. The Goldman Sachs Group decreased their price target on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Barclays boosted their price target on shares of Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.08.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction that occurred 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 owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 0.6%

Shares of APO stock opened at $119.16 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.43. The company’s 50-day moving average price is $126.76 and its 200-day moving average price is $124.34. The stock has a market cap of $68.70 billion, a price-to-earnings ratio of 75.90, a PEG ratio of 1.03 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.19 billion. During the same period last year, the business earned $1.82 earnings per share. Apollo Global Management’s revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.22 earnings per share for the current year.

Apollo Global Management Increases Dividend

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

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.