Tiger Global Management Llc Acquires 859,600 Shares of Apollo Global Management LLC (APO) Stock

Apollo Global Management LLC (NYSE:APO) major shareholder Tiger Global Management Llc purchased 859,600 shares of Apollo Global Management stock in a transaction that occurred on Monday, May 22nd. The shares were acquired at an average price of $26.22 per share, with a total value of $22,538,712.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tiger Global Management Llc also recently made the following trade(s):

  • On Thursday, May 18th, Tiger Global Management Llc purchased 681,672 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.42 per share, with a total value of $18,009,774.24.
  • On Friday, May 12th, Tiger Global Management Llc purchased 202,100 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.98 per share, with a total value of $5,452,658.00.
  • On Thursday, May 11th, Tiger Global Management Llc purchased 308,500 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.48 per share, with a total value of $8,169,080.00.
  • On Monday, May 8th, Tiger Global Management Llc purchased 175,600 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.55 per share, with a total value of $4,662,180.00.
  • On Tuesday, May 9th, Tiger Global Management Llc purchased 431,500 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.86 per share, with a total value of $11,590,090.00.
  • On Friday, May 5th, Tiger Global Management Llc purchased 298,200 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.19 per share, with a total value of $7,809,858.00.
  • On Monday, May 1st, Tiger Global Management Llc purchased 295,500 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.73 per share, with a total value of $7,898,715.00.
  • On Friday, April 28th, Tiger Global Management Llc purchased 1,144,200 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.88 per share, with a total value of $30,756,096.00.
  • On Wednesday, April 26th, Tiger Global Management Llc purchased 445,141 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.42 per share, with a total value of $11,760,625.22.
  • On Wednesday, April 19th, Tiger Global Management Llc purchased 146,475 shares of Apollo Global Management stock. The shares were acquired at an average price of $25.70 per share, with a total value of $3,764,407.50.

Shares of Apollo Global Management LLC (NYSE:APO) opened at 27.51 on Thursday. Apollo Global Management LLC has a 12 month low of $14.25 and a 12 month high of $27.78. The firm’s 50-day moving average is $26.29 and its 200 day moving average is $22.55. The firm has a market capitalization of $5.25 billion, a P/E ratio of 9.04 and a beta of 1.19.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.19. The company had revenue of $641.55 million for the quarter, compared to analysts’ expectations of $570.83 million. Apollo Global Management had a net margin of 20.44% and a return on equity of 70.68%. Apollo Global Management’s revenue was up 431.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. On average, equities research analysts anticipate that Apollo Global Management LLC will post $2.55 EPS for the current year.

Insider Buying and Selling by Quarter for Apollo Global Management (NYSE:APO)

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Friday, May 19th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 7.12%. Apollo Global Management’s dividend payout ratio is currently 66.99%.

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Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at about $297,000. Marshall Wace LLP purchased a new stake in Apollo Global Management during the fourth quarter valued at about $3,835,000. Caldwell & Orkin Inc. purchased a new stake in Apollo Global Management during the fourth quarter valued at about $1,967,000. FMR LLC boosted its stake in Apollo Global Management by 4.5% in the fourth quarter. FMR LLC now owns 7,993,352 shares of the financial services provider’s stock valued at $154,751,000 after buying an additional 344,646 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in Apollo Global Management by 0.9% in the fourth quarter. Thornburg Investment Management Inc. now owns 5,502,481 shares of the financial services provider’s stock valued at $106,528,000 after buying an additional 48,300 shares in the last quarter. Institutional investors and hedge funds own 63.79% of the company’s stock.

APO has been the subject of a number of research analyst reports. Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Bank of America Corp upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, February 6th. JMP Securities lifted their price target on Apollo Global Management to $30.00 in a report on Monday, February 6th. Jefferies Group LLC lifted their price target on Apollo Global Management from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $25.00 price target on shares of Apollo Global Management in a report on Friday, March 17th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Apollo Global Management has an average rating of “Buy” and a consensus price target of $24.56.

Apollo Global Management Company 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.

12 Month Chart for NYSE:APO

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