OMERS ADMINISTRATION Corp grew its stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 24.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,876 shares of the financial services provider’s stock after purchasing an additional 7,539 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Apollo Global Management were worth $4,220,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of APO. Legal & General Group Plc raised its holdings in shares of 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 acquiring an additional 155,857 shares during the period. Sandro Wealth Management LLC acquired a new position in Apollo Global Management in the 4th quarter worth approximately $1,599,000. Asset Management One Co. Ltd. grew its position in Apollo Global Management by 6.1% during the 4th 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 position in 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. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Apollo Global Management by 16.0% during 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 purchasing an additional 13,625 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.
Analyst Ratings Changes
APO has been the subject of a number of research analyst reports. Wall Street Zen lowered Apollo Global Management from a “sell” rating to a “strong sell” rating in a report on Saturday. UBS Group upped their price target on Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, May 8th. BMO Capital Markets reduced their price objective on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada decreased their price objective on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. Finally, Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $149.08.
Apollo Global Management Price Performance
Shares of Apollo Global Management stock opened at $124.32 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $125.98 and a 200-day simple moving average of $123.76. The stock has a market capitalization of $71.68 billion, a price-to-earnings ratio of 79.19, a PEG ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29.
Apollo Global Management (NYSE:APO – Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The business 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%. Apollo Global Management’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. On average, sell-side analysts expect that Apollo Global Management Inc. will post 8.19 earnings per share for the current year.
Apollo Global Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. Apollo Global Management’s dividend payout ratio is presently 143.31%.
Insider Buying and Selling at Apollo Global Management
In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at $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 available through this link. Corporate insiders own 8.30% of the company’s stock.
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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