North Dakota State Investment Board bought a new position in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) in the fourth quarter, Holdings Channel reports. The institutional investor bought 14,095 shares of the financial services provider’s stock, valued at approximately $2,040,000.
A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after purchasing an additional 340,956 shares in the last quarter. Northern Trust Corp grew its holdings in Apollo Global Management by 7.3% during the 3rd quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after acquiring an additional 299,698 shares during the last quarter. Legal & General Group Plc grew its holdings in Apollo Global Management by 5.7% during the 3rd quarter. Legal & General Group Plc now owns 3,455,982 shares of the financial services provider’s stock worth $460,579,000 after acquiring an additional 186,292 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Apollo Global Management by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock worth $326,716,000 after acquiring an additional 48,053 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Apollo Global Management by 31.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after acquiring an additional 383,198 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.
Wall Street Analyst Weigh In
APO has been the topic of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. BMO Capital Markets decreased their price objective on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Finally, Barclays increased their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.38.
Apollo Global Management Stock Down 0.9%
Shares of NYSE APO opened at $134.21 on Tuesday. The firm has a market capitalization of $77.38 billion, a PE ratio of 85.49, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The firm’s 50-day moving average is $116.97 and its 200-day moving average is $127.80.
Apollo Global Management (NYSE:APO – Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 EPS. Equities analysts expect that Apollo Global Management Inc. will post 8.36 EPS for the current year.
Apollo Global Management Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a $0.5625 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is 129.94%.
Apollo Global Management Company Profile
Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
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