267,669 Shares in Apollo Global Management Inc. $APO Acquired by Saba Capital Management L.P.

Saba Capital Management L.P. purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the 1st quarter, Holdings Channel reports. The firm purchased 267,669 shares of the financial services provider’s stock, valued at approximately $29,824,000. Apollo Global Management comprises approximately 0.8% of Saba Capital Management L.P.’s portfolio, making the stock its 18th largest holding.

A number of other large investors also recently modified their holdings of APO. Schnieders Capital Management LLC. acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at $7,954,000. Baird Financial Group Inc. grew its stake in shares of Apollo Global Management by 117.5% during the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after purchasing an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Apollo Global Management by 4.8% during the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 305 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Apollo Global Management in the second quarter valued at $722,000. Finally, Northern Right Capital Management L.P. increased its holdings in Apollo Global Management by 1.5% in the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock valued at $24,542,000 after buying an additional 2,500 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on APO shares. TD Cowen decreased their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a report on Monday, May 18th. HSBC began coverage on Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective on the stock. Wall Street Zen lowered Apollo Global Management from a “sell” rating to a “strong sell” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.08.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Shares of APO opened at $124.32 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The stock has a market cap of $71.68 billion, a PE ratio of 79.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.50. The firm has a fifty day moving average price of $125.98 and a 200 day moving average price of $123.76.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company posted $1.82 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.19 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

About Apollo Global Management

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.