Fortis Capital Management LLC purchased a new position in Apollo Global Management Inc. (NYSE:APO – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 49,641 shares of the financial services provider’s stock, valued at approximately $5,531,000.
A number of other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares during the period. Sandro Wealth Management LLC bought a new position in shares of Apollo Global Management during the fourth quarter worth $1,599,000. Asset Management One Co. Ltd. boosted its position in shares of Apollo Global Management by 6.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock worth $27,936,000 after purchasing an additional 10,876 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after buying an additional 340,956 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Apollo Global Management by 16.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider’s stock valued at $14,319,000 after buying an additional 13,625 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.
Apollo Global Management Stock Performance
Apollo Global Management (NYSE:APO – Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.43% and a net margin of 3.62%.The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8.22 earnings per share for the current year.
Apollo Global Management Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s payout ratio is presently 143.31%.
Analyst Upgrades and Downgrades
APO has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Royal Bank Of Canada dropped their price target on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research report on Monday. Finally, TD Cowen dropped their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $149.08.
Read Our Latest Research Report on APO
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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