Opal Wealth Advisors LLC Invests $229,000 in Apollo Global Management, Inc. (NYSE:APO)

Opal Wealth Advisors LLC purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,035 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its holdings in Apollo Global Management by 2.8% during the 4th quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after buying an additional 94 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of Apollo Global Management by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock worth $254,000 after buying an additional 107 shares during the period. PNC Financial Services Group Inc. grew its position in Apollo Global Management by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,775 shares of the financial services provider’s stock valued at $2,588,000 after purchasing an additional 117 shares during the last quarter. Compass Wealth Management LLC grew its position in Apollo Global Management by 48.7% during the 1st quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 146 shares during the last quarter. Finally, CWM LLC grew its position in Apollo Global Management by 3.0% during the 4th quarter. CWM LLC now owns 5,727 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 169 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APO has been the topic of several research analyst reports. Barclays lowered their target price on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets increased their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Jefferies Financial Group cut their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.62.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at $40,002,634.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

Apollo Global Management Stock Up 0.2 %

Shares of APO opened at $118.00 on Monday. The firm has a market capitalization of $67.04 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.97 and a beta of 1.61. Apollo Global Management, Inc. has a 12-month low of $72.76 and a 12-month high of $119.69. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $113.28 and a 200-day moving average price of $107.17.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data 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 return on equity of 19.12% and a net margin of 16.27%. The business had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. Equities research analysts expect that Apollo Global Management, Inc. will post 7.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.463 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a yield of 1.57%. Apollo Global Management’s dividend payout ratio is 20.49%.

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.