Korea Investment CORP Takes Position in Apollo Global Management Inc. $APO

Korea Investment CORP purchased a new position in shares of Apollo Global Management Inc. (NYSE:APOFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 187,578 shares of the financial services provider’s stock, valued at approximately $22,192,000.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Apollo Global Management in the 2nd quarter valued at about $336,644,000. Boston Partners grew its position in Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after purchasing an additional 1,692,532 shares during the last quarter. Temasek Holdings Private Ltd grew its position in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Apollo Global Management in the second quarter valued at approximately $172,290,000. Finally, Focus Partners Wealth increased its stake in shares of Apollo Global Management by 2,560.3% in the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after purchasing an additional 1,351,778 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 0.0%

Shares of NYSE:APO opened at $132.63 on Monday. The company has a 50 day moving average of $126.64 and a 200-day moving average of $122.68. The firm has a market cap of $78.32 billion, a P/E ratio of 48.58, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. 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 (NYSE:APOGet Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the business earned $1.92 EPS. As a group, analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Insiders Place Their Bets

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was 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 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 through this link. Also, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HSBC assumed coverage on Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective for the company. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. UBS Group lifted their target price on Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, BMO Capital Markets decreased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.77.

Read Our Latest Stock Report on APO

Apollo Global Management Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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