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

Apollo Global Management, Inc. (NYSE:APO) was the recipient of some unusual options trading on Thursday. Stock traders bought 8,331 put options on the company. This represents an increase of 7% compared to the typical daily volume of 7,790 put options.

Apollo Global Management Trading Down 2.3 %

APO opened at $109.47 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54. Apollo Global Management has a one year low of $57.50 and a one year high of $117.15. The company has a market cap of $62.20 billion, a P/E ratio of 13.02, a PEG ratio of 0.90 and a beta of 1.61. The business’s 50-day simple moving average is $111.15 and its 200-day simple moving average is $99.81.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The company had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. As a group, equities research analysts expect that Apollo Global Management will post 7.43 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.45%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APO. Morgan Stanley lifted their price objective on Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Evercore ISI boosted their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lowered their price objective on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.31.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider James C. Zelter sold 150,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the completion of the sale, the insider now owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Leon D. Black sold 300,000 shares of the company’s stock in a transaction that occurred on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total value of $33,453,000.00. Following the transaction, the insider now directly owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James C. Zelter sold 150,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at approximately $158,782,826.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,426,000 shares of company stock worth $158,226,960. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in shares of Apollo Global Management by 55.3% during the third quarter. SG Americas Securities LLC now owns 9,587 shares of the financial services provider’s stock worth $861,000 after acquiring an additional 3,415 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Apollo Global Management by 21,540.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,761 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 4,739 shares during the last quarter. SVB Wealth LLC increased its stake in Apollo Global Management by 3.1% in the third quarter. SVB Wealth LLC now owns 5,647 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 171 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Apollo Global Management by 3.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,215 shares of the financial services provider’s stock valued at $3,161,000 after buying an additional 1,334 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Apollo Global Management by 174.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 186,586 shares of the financial services provider’s stock worth $16,748,000 after buying an additional 118,587 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.