Border to Coast Pensions Partnership Ltd Purchases 100,000 Shares of Apollo Global Management Inc. (NYSE:APO)

Border to Coast Pensions Partnership Ltd increased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 166.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 160,000 shares of the financial services provider’s stock after purchasing an additional 100,000 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Apollo Global Management were worth $21,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC boosted its position in Apollo Global Management by 326.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 426 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 326 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in Apollo Global Management by 31.8% in the first quarter. Transcend Capital Advisors LLC now owns 2,174 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 524 shares during the last quarter. PDS Planning Inc grew its position in shares of Apollo Global Management by 34.3% during the 1st quarter. PDS Planning Inc now owns 1,918 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 490 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Apollo Global Management by 71.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 74,136 shares of the financial services provider’s stock worth $10,152,000 after acquiring an additional 30,967 shares during the last quarter. Finally, SOL Capital Management CO raised its stake in Apollo Global Management by 12.0% in the 1st quarter. SOL Capital Management CO now owns 84,952 shares of the financial services provider’s stock valued at $11,633,000 after acquiring an additional 9,122 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $139.48 on Friday. The firm has a market cap of $79.71 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The business has a 50 day moving average price of $134.22 and a 200-day moving average price of $146.32.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. Apollo Global Management’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.46%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APO. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Barclays increased their price objective on Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Morgan Stanley decreased their target price on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Citigroup lowered their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Insider Activity

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer now owns 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.20% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.