River Road Asset Management LLC Acquires 340 Shares of Apollo Global Management, Inc. (NYSE:APO)

River Road Asset Management LLC boosted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,802 shares of the financial services provider’s stock after buying an additional 340 shares during the quarter. River Road Asset Management LLC’s holdings in Apollo Global Management were worth $6,784,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Apollo Global Management by 87.8% during the 1st quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock worth $2,316,818,000 after purchasing an additional 17,476,830 shares during the last quarter. FMR LLC raised its holdings in Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after purchasing an additional 1,584,201 shares during the last quarter. State Street Corp raised its holdings in Apollo Global Management by 2.0% during the 1st quarter. State Street Corp now owns 9,505,487 shares of the financial services provider’s stock worth $600,360,000 after purchasing an additional 184,378 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Apollo Global Management by 1.0% during the 1st quarter. Clearbridge Investments LLC now owns 7,859,123 shares of the financial services provider’s stock worth $487,187,000 after purchasing an additional 78,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Apollo Global Management by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,808,500 shares of the financial services provider’s stock worth $493,187,000 after purchasing an additional 827,935 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APO. Wells Fargo & Company raised their price target on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Apollo Global Management in a research report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 price objective for the company. BMO Capital Markets raised their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, Citigroup raised their price objective on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.25.

Insiders Place Their Bets

In other Apollo Global Management news, insider James C. Zelter sold 150,000 shares of Apollo Global Management stock in a transaction on Monday, February 12th. The shares were sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Leon D. Black sold 450,000 shares of Apollo Global Management stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the sale, the insider now directly 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 available at the SEC website. Also, insider James C. Zelter sold 150,000 shares of Apollo Global Management stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the sale, the insider now owns 1,454,588 shares in the company, valued at $158,782,826.08. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock valued at $158,226,960 in the last three months. 8.70% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

NYSE APO opened at $107.49 on Thursday. The company has a fifty day simple moving average of $111.22 and a 200 day simple moving average of $98.22. Apollo Global Management, Inc. has a 12-month low of $57.50 and a 12-month high of $117.15. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The company has a market cap of $61.07 billion, a P/E ratio of 12.78, a PEG ratio of 0.89 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. Sell-side analysts predict that Apollo Global Management, Inc. will post 7.49 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s dividend payout ratio is 20.45%.

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.