Wells Fargo & Company MN increased its position in Apollo Global Management LLC (NYSE:APO) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 443,155 shares of the financial services provider’s stock after purchasing an additional 19,749 shares during the quarter. Wells Fargo & Company MN’s holdings in Apollo Global Management were worth $14,833,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in APO. Stelac Advisory Services LLC bought a new position in Apollo Global Management in the third quarter worth approximately $117,000. Camarda Financial Advisors LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $186,000. Wealthsource Partners LLC bought a new position in Apollo Global Management in the third quarter worth approximately $251,000. Evanston Investments Inc. dba Evanston Advisors bought a new position in Apollo Global Management in the third quarter worth approximately $301,000. Finally, Creative Planning bought a new position in Apollo Global Management in the fourth quarter worth approximately $330,000. 70.48% of the stock is currently owned by institutional investors.
In other news, CFO Martin Kelly sold 15,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $34.25, for a total transaction of $513,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pauline Richards acquired 1,280 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were acquired at an average price of $33.66 per share, with a total value of $43,084.80. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,091,842 shares of company stock valued at $173,113,138. Company insiders own 4.11% of the company’s stock.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.67 by $0.55. Apollo Global Management had a return on equity of 62.94% and a net margin of 23.92%. The firm had revenue of $869.50 million during the quarter, compared to analyst estimates of $599.38 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. sell-side analysts expect that Apollo Global Management LLC will post 3.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s dividend payout ratio is currently 84.89%.
A number of analysts have weighed in on APO shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $43.00 target price on shares of Apollo Global Management in a report on Thursday, February 1st. ValuEngine upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Zacks Investment Research lowered Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Citigroup lowered Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Friday, January 19th. Finally, Credit Suisse Group upped their target price on Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $36.50.
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Apollo Global Management Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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