CCG Wealth Management LLC Invests $327,000 in Apollo Global Management, Inc. (NYSE:APO)

CCG Wealth Management LLC acquired a new position in Apollo Global Management, Inc. (NYSE:APO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 2,904 shares of the financial services provider’s stock, valued at approximately $327,000.

Several other hedge funds have also recently made changes to their positions in the business. Miracle Mile Advisors LLC raised its position in shares of Apollo Global Management by 3.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,290 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 310 shares in the last quarter. Diversified Trust Co bought a new position in shares of Apollo Global Management in the 1st quarter worth about $1,731,000. Compass Ion Advisors LLC bought a new position in shares of Apollo Global Management in the 1st quarter worth about $557,000. Iron Horse Wealth Management LLC raised its position in shares of Apollo Global Management by 40.5% in the 1st quarter. Iron Horse Wealth Management LLC now owns 2,354 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 678 shares in the last quarter. Finally, Vicus Capital bought a new position in shares of Apollo Global Management in the 1st quarter worth about $360,000. 77.06% of the stock is owned by institutional investors.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now owns 359,445 shares in the company, valued at approximately $40,002,634.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Up 0.6 %

APO traded up $0.67 during midday trading on Monday, reaching $118.74. 3,010,253 shares of the company were exchanged, compared to its average volume of 2,437,556. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The company’s fifty day moving average price is $114.34 and its 200 day moving average price is $108.09. The company has a market cap of $67.46 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.59. Apollo Global Management, Inc. has a one year low of $73.77 and a one year high of $119.69.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. As a group, analysts expect that Apollo Global Management, Inc. will post 7.14 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s payout ratio is presently 20.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. BMO Capital Markets boosted their target price 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. Keefe, Bruyette & Woods boosted their target price on Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. boosted their target price 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $115.62.

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.