Swiss National Bank Grows Stake in Apollo Global Management Inc. $APO

Swiss National Bank lifted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 6.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,277,414 shares of the financial services provider’s stock after acquiring an additional 82,300 shares during the period. Swiss National Bank’s holdings in Apollo Global Management were worth $142,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California Public Employees Retirement System lifted its holdings in Apollo Global Management by 3.4% in the 1st quarter. California Public Employees Retirement System now owns 802,136 shares of the financial services provider’s stock valued at $89,374,000 after purchasing an additional 26,737 shares in the last quarter. Kesler Norman & Wride LLC grew its holdings in shares of Apollo Global Management by 14.4% during the first quarter. Kesler Norman & Wride LLC now owns 3,705 shares of the financial services provider’s stock worth $413,000 after buying an additional 466 shares in the last quarter. Main Street Group LTD purchased a new stake in shares of Apollo Global Management during the first quarter worth about $118,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Apollo Global Management in the first quarter valued at approximately $2,240,000. Finally, Independent Financial Group LLC acquired a new position in shares of Apollo Global Management in the first quarter valued at approximately $650,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APO has been the topic of a number of recent analyst reports. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. HSBC began coverage on Apollo Global Management in a research report on Monday. They issued a “buy” rating and a $145.00 price objective for the company. Piper Sandler dropped their target price on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group reduced their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered their price target on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.15.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $118.28 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.43. The business has a 50 day moving average price of $127.28 and a two-hundred day moving average price of $124.71. The firm has a market cap of $68.19 billion, a PE ratio of 75.34, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. Sell-side analysts expect that Apollo Global Management Inc. will post 8.23 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is 143.31%.

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.