SVB Wealth LLC Makes New $628,000 Investment in Apollo Global Management, Inc. (NYSE:APO)

SVB Wealth LLC purchased a new position in Apollo Global Management, Inc. (NYSE:APO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,588 shares of the financial services provider’s stock, valued at approximately $628,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Apollo Global Management by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after buying an additional 750,781 shares during the last quarter. Capital International Investors lifted its position in shares of Apollo Global Management by 2.1% in the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after buying an additional 218,566 shares during the last quarter. Norges Bank acquired a new stake in shares of Apollo Global Management in the fourth quarter worth about $586,016,000. Putnam Investments LLC lifted its position in shares of Apollo Global Management by 2.8% in the fourth quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after buying an additional 164,400 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after buying an additional 1,360,525 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. BMO Capital Markets boosted their price objective on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Barclays cut their price objective on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Finally, Jefferies Financial Group cut their price objective on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.29.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

APO traded down $0.09 on Monday, hitting $122.07. 1,657,250 shares of the stock traded hands, compared to its average volume of 2,362,505. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $125.31. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $69.36 billion, a PE ratio of 13.52, a P/E/G ratio of 1.00 and a beta of 1.59. The business has a fifty day moving average price of $118.12 and a two-hundred day moving average price of $112.10.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $827.33 million. On average, research analysts predict that Apollo Global Management, Inc. will post 7.09 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.463 per share. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a yield of 1.52%. Apollo Global Management’s dividend payout ratio is 20.49%.

Apollo Global Management Company 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.