Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,107 shares of the financial services provider’s stock, valued at approximately $2,240,000.
Other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at $29,000. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management during the first quarter worth $29,000. Steigerwald Gordon & Koch Inc. increased its position in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Osbon Capital Management LLC bought a new position in Apollo Global Management during the fourth quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. raised its stake in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 96 shares during the period. 77.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
APO has been the subject of several analyst reports. Barclays raised their target price on shares of Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Piper Sandler decreased their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Morgan Stanley dropped their target price on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Finally, Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.
Insider Activity at Apollo Global Management
In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.
Apollo Global Management Price Performance
APO opened at $120.51 on Friday. The company has a market capitalization of $69.48 billion, a price-to-earnings ratio of 76.76, a PEG ratio of 1.07 and a beta of 1.50. 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 12-month low of $99.56 and a 12-month high of $156.89. The business’s fifty day simple moving average is $127.52 and its 200-day simple moving average is $125.06.
Apollo Global Management (NYSE:APO – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8.23 earnings per share for the current fiscal year.
Apollo Global Management Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.
About Apollo Global Management
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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