Axxcess Wealth Management LLC Purchases 14,168 Shares of Apollo Global Management, Inc. (NYSE:APO)

Axxcess Wealth Management LLC boosted its stake in Apollo Global Management, Inc. (NYSE:APO) by 154.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,346 shares of the financial services provider’s stock after purchasing an additional 14,168 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Apollo Global Management were worth $2,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sugarloaf Wealth Management LLC acquired a new position in Apollo Global Management in the fourth quarter valued at about $31,000. CVA Family Office LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth about $34,000. Blue Trust Inc. boosted its position in shares of Apollo Global Management by 151.4% during the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after buying an additional 221 shares during the period. Hanseatic Management Services Inc. acquired a new position in shares of Apollo Global Management during the third quarter worth about $39,000. Finally, GAMMA Investing LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth about $50,000. Institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the completion of the transaction, the insider now directly owns 44,104,773 shares of the company’s stock, valued at approximately $4,915,035,903.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the completion of the transaction, the insider now directly owns 44,104,773 shares of the company’s stock, valued at approximately $4,915,035,903.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Whitney Chatterjee sold 12,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the transaction, the insider now directly owns 123,901 shares of the company’s stock, valued at $13,765,401.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,426,000 shares of company stock valued at $158,226,960 in the last 90 days. 8.70% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of NYSE APO traded down $2.61 during trading hours on Friday, reaching $109.46. 3,300,741 shares of the stock were exchanged, compared to its average volume of 2,078,355. The firm has a market capitalization of $62.19 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.92 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54. Apollo Global Management, Inc. has a 52 week low of $57.50 and a 52 week high of $117.15. The stock’s fifty day simple moving average is $111.11 and its 200 day simple moving average is $100.05.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.77% and a net margin of 16.27%. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. Sell-side analysts predict that Apollo Global Management, Inc. will post 7.43 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.463 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.69%. Apollo Global Management’s dividend payout ratio (DPR) is 19.05%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Evercore ISI increased their price target on Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets increased their price target 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. Finally, Citigroup increased their price target on Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.31.

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.