Union Bancaire Privee UBP SA Buys 280 Shares of Apollo Global Management, Inc. (NYSE:APO)

Union Bancaire Privee UBP SA lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,710 shares of the financial services provider’s stock after purchasing an additional 280 shares during the period. Union Bancaire Privee UBP SA’s holdings in Apollo Global Management were worth $234,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APO. Geode Capital Management LLC grew its holdings in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after purchasing an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after purchasing an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen cut their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Piper Sandler lowered their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Raymond James started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price objective for the company. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Wells Fargo & Company upped their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.00.

Apollo Global Management Stock Performance

APO stock opened at $132.16 on Friday. The firm has a market cap of $75.53 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.17 and a beta of 1.59. The firm has a 50-day simple moving average of $132.32 and a two-hundred day simple moving average of $148.74. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. On average, equities analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer now directly owns 373,164 shares of the company’s stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.