Coastal Bridge Advisors LLC Takes Position in Apollo Global Management Inc. $APO

Coastal Bridge Advisors LLC purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, Holdings Channel.com reports. The fund purchased 33,450 shares of the financial services provider’s stock, valued at approximately $3,957,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new position in Apollo Global Management in the second quarter worth approximately $459,987,000. Bank of New York Mellon Corp purchased a new stake in Apollo Global Management in the second quarter valued at $336,644,000. Boston Partners raised its position in Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after purchasing an additional 1,692,532 shares during the period. Temasek Holdings Private Ltd lifted its stake in shares of 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 valued at $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $172,290,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APO has been the subject of a number of recent analyst reports. Barclays raised their price objective on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. HSBC assumed coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 target price for the company. Piper Sandler dropped their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada upped their price objective on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.30% of the company’s stock.

Apollo Global Management Price Performance

APO stock opened at $133.41 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $78.78 billion, a PE ratio of 48.87, a P/E/G ratio of 1.21 and a beta of 1.51. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The business’s fifty day moving average price is $126.27 and its 200 day moving average price is $122.78.

Apollo Global Management (NYSE:APO) last announced its earnings results 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). The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the business earned $1.92 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Announces Dividend

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

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.