DNB Asset Management AS lifted its stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 370,083 shares of the financial services provider’s stock after buying an additional 6,952 shares during the quarter. DNB Asset Management AS’s holdings in Apollo Global Management were worth $53,573,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Chesapeake Asset Management LLC lifted its stake in shares of Apollo Global Management by 3.6% during the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock worth $299,000 after buying an additional 72 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider’s stock worth $740,000 after buying an additional 78 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock worth $1,383,000 after buying an additional 80 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after buying an additional 82 shares during the last quarter. Finally, United Advisor Group LLC lifted its stake in shares of Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock worth $282,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on APO. JPMorgan Chase & Co. cut their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. BMO Capital Markets decreased their price objective on 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. Morgan Stanley decreased their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.75.
Apollo Global Management Stock Down 0.2%
Shares of APO opened at $135.23 on Friday. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The firm’s 50 day moving average is $116.51 and its 200-day moving average is $127.73. The stock has a market capitalization of $77.96 billion, a PE ratio of 86.13, a P/E/G 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 (NYSE:APO – Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts forecast that Apollo Global Management Inc. will post 8.37 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 issued a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, May 19th. 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.
See Also
- Five stocks we like better than Apollo Global Management
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO – Free Report).
Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.
