Tredje AP fonden Acquires 8,800 Shares of Apollo Global Management Inc. $APO

Tredje AP fonden grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 14.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,800 shares of the financial services provider’s stock after buying an additional 8,800 shares during the quarter. Tredje AP fonden’s holdings in Apollo Global Management were worth $9,761,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Apollo Global Management by 1.4% during the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock valued at $75,347,000 after buying an additional 7,441 shares during the last quarter. True North Advisors LLC bought a new position in Apollo Global Management in the first quarter worth approximately $2,097,000. U.S. Capital Wealth Advisors LLC grew its stake in Apollo Global Management by 25.3% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 11,749 shares of the financial services provider’s stock worth $1,609,000 after purchasing an additional 2,375 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after purchasing an additional 706,181 shares in the last quarter. Finally, Davidson Investment Advisors bought a new position in Apollo Global Management in the first quarter worth approximately $443,000. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Up 0.8%

Shares of NYSE APO opened at $124.48 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $71.21 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. The stock’s fifty day simple moving average is $131.50 and its two-hundred day simple moving average is $136.12. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter last year, the firm earned $1.64 EPS. As a group, analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup dropped their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Barclays dropped their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Morgan Stanley dropped their price objective on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Finally, Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.57.

About Apollo Global Management

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.