Apollo Global Management (APO) Trading 6.9% Higher on Insider Buying Activity

Shares of Apollo Global Management LLC (NYSE:APO) traded up 6.9% on Wednesday following insider buying activity. The company traded as high as $28.02 and last traded at $28.00. 1,171,241 shares changed hands during trading, an increase of 22% from the average session volume of 961,540 shares. The stock had previously closed at $26.19.

Specifically, Director A B. Krongard purchased 1,000 shares of Apollo Global Management stock in a transaction dated Thursday, November 15th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tiger Global Management Llc purchased 815,000 shares of Apollo Global Management stock in a transaction dated Tuesday, October 23rd. The shares were purchased at an average cost of $29.26 per share, for a total transaction of $23,846,900.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,056,117 shares of company stock worth $58,704,506. Insiders own 4.11% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut shares of Apollo Global Management from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research report on Wednesday, November 14th. Citigroup cut their price objective on shares of Apollo Global Management from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Oppenheimer set a $43.00 price objective on shares of Apollo Global Management and gave the company a “buy” rating in a research report on Wednesday, October 31st. ValuEngine cut shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Zacks Investment Research raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.38.

The stock has a market cap of $5.28 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.05.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $497.16 million during the quarter, compared to the consensus estimate of $596.75 million. Apollo Global Management had a net margin of 19.45% and a return on equity of 43.98%. The company’s revenue was down 28.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. Equities analysts predict that Apollo Global Management LLC will post 1.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Tuesday, November 20th will be given a $0.46 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Monday, November 19th. Apollo Global Management’s payout ratio is currently 51.54%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at $600,000. Squar Milner Financial Services LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at $112,000. Beck Mack & Oliver LLC increased its stake in Apollo Global Management by 2.6% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,177,203 shares of the financial services provider’s stock valued at $101,257,000 after buying an additional 79,076 shares during the last quarter. Alps Advisors Inc. increased its stake in Apollo Global Management by 11.6% in the 2nd quarter. Alps Advisors Inc. now owns 16,249 shares of the financial services provider’s stock valued at $544,000 after buying an additional 1,685 shares during the last quarter. Finally, Kaizen Advisory LLC increased its stake in Apollo Global Management by 1,717.1% in the 2nd quarter. Kaizen Advisory LLC now owns 32,707 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 30,907 shares during the last quarter. 71.75% of the stock is currently owned by institutional investors and hedge funds.

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About Apollo Global Management (NYSE:APO)

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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