Apollo Global Management (NYSE:APO) Shares Gap Up After Insider Buying Activity

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Apollo Global Management LLC (NYSE:APO) shares gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $25.48, but opened at $27.48. Apollo Global Management shares last traded at $34.69, with a volume of 6,998,029 shares trading hands.

Specifically, major shareholder Tiger Global Management Llc sold 3,750,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $49.06, for a total transaction of $183,975,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael E. Ducey acquired 2,185 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $26.99 per share, for a total transaction of $58,973.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 5,150,237 shares of company stock worth $246,584,439. 46.90% of the stock is owned by insiders.

APO has been the topic of several recent analyst reports. Bank of America lowered shares of Apollo Global Management from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $28.00 in a report on Monday. Argus reiterated a “buy” rating and set a $55.00 price objective on shares of Apollo Global Management in a report on Thursday, February 6th. Evercore ISI reiterated a “hold” rating and set a $50.00 price objective on shares of Apollo Global Management in a report on Sunday, February 2nd. UBS Group increased their price objective on shares of Apollo Global Management from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Deutsche Bank cut their price objective on shares of Apollo Global Management from $47.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, March 18th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.57.

The stock’s 50-day moving average is $40.31 and its 200-day moving average is $42.95. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.55 and a beta of 1.61. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.15.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, January 30th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.37. The firm had revenue of $448.71 million during the quarter, compared to the consensus estimate of $425.11 million. Apollo Global Management had a net margin of 31.68% and a return on equity of 47.22%. During the same quarter in the prior year, the company earned ($1.01) EPS. On average, equities analysts predict that Apollo Global Management LLC will post 2.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 11th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 10.26%. The ex-dividend date was Monday, February 10th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.50. Apollo Global Management’s dividend payout ratio is 131.37%.

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $810,000. CA Family Wealth LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $201,000. Sunbelt Securities Inc. acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $32,639,000. LMR Partners LLP grew its position in Apollo Global Management by 8.1% in the fourth quarter. LMR Partners LLP now owns 90,354 shares of the financial services provider’s stock valued at $4,311,000 after acquiring an additional 6,776 shares in the last quarter. Finally, Procyon Private Wealth Partners LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $462,000. 69.69% of the stock is owned by institutional investors.

Apollo Global Management Company Profile (NYSE:APO)

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

Read More: Earnings Per Share (EPS) Explained

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