Traders Buy Large Volume of Call Options on Apollo Global Management (NYSE:APO)

Apollo Global Management, Inc. (NYSE:APO) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 41,263 call options on the stock. This represents an increase of approximately 1,230% compared to the typical volume of 3,102 call options.

In other Apollo Global Management news, Director Pauline Richards bought 2,120 shares of the stock in a transaction on Tuesday, May 11th. The stock was purchased at an average price of $57.16 per share, for a total transaction of $121,179.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua Harris sold 34,100 shares of the business’s stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $51.02, for a total transaction of $1,739,782.00. Following the sale, the insider now owns 1,350,000 shares of the company’s stock, valued at approximately $68,877,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 341,678 shares of company stock valued at $17,600,138. 9.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Apollo Global Management by 11.5% during the 1st quarter. BlackRock Inc. now owns 10,535,838 shares of the financial services provider’s stock worth $495,290,000 after buying an additional 1,085,847 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Apollo Global Management by 14.3% in the 4th quarter. Clearbridge Investments LLC now owns 8,136,747 shares of the financial services provider’s stock valued at $398,538,000 after purchasing an additional 1,015,878 shares during the period. Putnam Investments LLC increased its holdings in shares of Apollo Global Management by 14.0% in the 1st quarter. Putnam Investments LLC now owns 4,119,163 shares of the financial services provider’s stock valued at $193,642,000 after purchasing an additional 506,232 shares during the period. Morgan Stanley increased its holdings in shares of Apollo Global Management by 39.4% in the 4th quarter. Morgan Stanley now owns 2,794,072 shares of the financial services provider’s stock valued at $136,853,000 after purchasing an additional 789,616 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Apollo Global Management by 4.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,516,425 shares of the financial services provider’s stock valued at $118,297,000 after purchasing an additional 106,432 shares during the period. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Several equities analysts have recently commented on APO shares. Oppenheimer upgraded shares of Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $59.00 price target for the company in a research report on Tuesday, April 20th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 5th. BMO Capital Markets upped their price target on shares of Apollo Global Management from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 9th. TheStreet upgraded shares of Apollo Global Management from a “c+” rating to a “b” rating in a research report on Tuesday, May 4th. Finally, Citigroup upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and upped their price target for the stock from $53.00 to $56.00 in a research report on Monday, March 22nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Apollo Global Management has an average rating of “Buy” and a consensus target price of $57.07.

NYSE APO traded down $0.41 on Tuesday, reaching $56.97. The company’s stock had a trading volume of 84,943 shares, compared to its average volume of 2,184,008. The firm’s 50 day moving average is $52.23 and its two-hundred day moving average is $48.53. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $13.24 billion, a PE ratio of -68.31, a PEG ratio of 5.26 and a beta of 1.62. Apollo Global Management has a twelve month low of $36.35 and a twelve month high of $58.49.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Monday, May 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.08. During the same period last year, the company posted $0.52 EPS. Equities research analysts anticipate that Apollo Global Management will post 1.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Thursday, May 20th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 19th. This represents a $2.00 annualized dividend and a yield of 3.51%. Apollo Global Management’s payout ratio is presently 88.56%.

About Apollo Global Management

Apollo Global Management, Inc 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.

Featured Story: Why is cost of goods sold important?

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.