Valley National Advisers Inc. Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Valley National Advisers Inc. grew its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,519 shares of the financial services provider’s stock after buying an additional 104 shares during the quarter. Valley National Advisers Inc.’s holdings in Apollo Global Management were worth $1,295,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sugarloaf Wealth Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $31,000. DSM Capital Partners LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $31,000. Blue Trust Inc. raised its position in shares of Apollo Global Management by 151.4% during the 4th quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 221 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $33,000. Finally, CVA Family Office LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO stock traded down $0.24 during mid-day trading on Wednesday, reaching $119.80. The stock had a trading volume of 1,812,199 shares, compared to its average volume of 2,432,547. Apollo Global Management, Inc. has a 12-month low of $73.77 and a 12-month high of $120.80. The company has a market cap of $68.07 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.59. The business has a 50-day simple moving average of $114.77 and a 200 day simple moving average of $108.53. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. On average, sell-side analysts anticipate that Apollo Global Management, Inc. will post 7.14 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed 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. This represents a $1.85 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Wall Street Analysts Forecast Growth

APO has been the topic of several research analyst reports. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. StockNews.com raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Jefferies Financial Group cut their price target on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Evercore ISI lifted their price target on Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.62.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by company insiders.

About Apollo Global Management

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.