Manning & Napier Advisors LLC acquired a new position in Apollo Global Management Inc. (NYSE:APO – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,747 shares of the financial services provider’s stock, valued at approximately $7,069,000.
A number of other hedge funds have also recently made changes to their positions in APO. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at approximately $29,000. MBM Wealth Consultants LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at $29,000. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after buying an additional 213 shares during the period. Keating Financial Advisory Services Inc. acquired a new position in Apollo Global Management during the 2nd quarter worth about $31,000. Finally, Osbon Capital Management LLC purchased a new position in Apollo Global Management during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.
Analyst Ratings Changes
A number of analysts have issued reports on APO shares. UBS Group boosted their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Barclays increased their target price on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Finally, Royal Bank Of Canada upped their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.
Apollo Global Management Stock Performance
Shares of APO stock opened at $132.72 on Tuesday. The company has a market cap of $78.38 billion, a P/E ratio of 48.62, a PEG ratio of 1.20 and a beta of 1.51. The firm has a fifty day moving average price of $126.57 and a 200 day moving average price of $122.72. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29.
Apollo Global Management (NYSE:APO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the prior year, the business earned $1.92 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.
Apollo Global Management Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.5625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 1.7%. Apollo Global Management’s payout ratio is presently 82.42%.
Insider Buying and Selling
In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John P. Zito sold 48,644 shares of the firm’s 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 sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 8.30% of the company’s stock.
Apollo Global Management 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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