Wells Fargo & Company MN Purchases 50,008 Shares of Apollo Global Management, Inc. (NYSE:APO)

Wells Fargo & Company MN raised its position in Apollo Global Management, Inc. (NYSE:APO) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 950,731 shares of the financial services provider’s stock after purchasing an additional 50,008 shares during the period. Wells Fargo & Company MN owned approximately 0.17% of Apollo Global Management worth $88,599,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of APO. FMR LLC lifted its stake in Apollo Global Management by 18.9% in the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after buying an additional 1,584,201 shares in the last quarter. Norges Bank acquired a new position in Apollo Global Management in the 4th quarter worth $586,016,000. Mariner LLC increased its holdings in Apollo Global Management by 0.3% during the 3rd quarter. Mariner LLC now owns 3,648,342 shares of the financial services provider’s stock worth $327,475,000 after purchasing an additional 9,962 shares in the last quarter. Northern Trust Corp raised its stake in shares of Apollo Global Management by 2.5% in the 3rd quarter. Northern Trust Corp now owns 2,968,775 shares of the financial services provider’s stock valued at $266,477,000 after purchasing an additional 72,111 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Apollo Global Management by 11.2% in the third quarter. William Blair Investment Management LLC now owns 1,902,972 shares of the financial services provider’s stock valued at $170,811,000 after purchasing an additional 191,881 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.8 %

Shares of APO opened at $112.90 on Friday. The stock has a market capitalization of $64.15 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.93 and a beta of 1.61. Apollo Global Management, Inc. has a 52 week low of $62.63 and a 52 week high of $117.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a fifty day moving average of $111.79 and a 200-day moving average of $102.87.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). The business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. As a group, sell-side analysts anticipate that Apollo Global Management, Inc. will post 7.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.463 per share. The ex-dividend date is Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a dividend yield of 1.64%. Apollo Global Management’s dividend payout ratio is 20.49%.

Wall Street Analyst Weigh In

APO has been the topic of a number of recent research reports. Barclays dropped their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Keefe, Bruyette & Woods raised their price target on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Jefferies Financial Group lowered their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Finally, BMO Capital Markets raised their price objective on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.62.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 450,000 shares of Apollo Global Management stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now owns 42,604,773 shares in the company, valued at approximately $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 Apollo Global Management news, insider Leon D. Black sold 300,000 shares of the stock in a transaction that occurred on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total value of $33,453,000.00. Following the transaction, the insider now owns 43,054,773 shares in the company, valued at $4,801,037,737.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now directly owns 42,604,773 shares of the company’s stock, valued at approximately $4,716,774,418.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 780,000 shares of company stock worth $86,611,200. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Profile

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.