Man Group plc Makes New Investment in Apollo Global Management Inc. $APO

Man Group plc bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 79,179 shares of the financial services provider’s stock, valued at approximately $9,368,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Western Wealth Management LLC bought a new stake in shares of Apollo Global Management in the second quarter worth approximately $205,000. Jupiter Topco LLC purchased a new position in shares of Apollo Global Management during the second quarter valued at approximately $48,193,000. EFG International AG bought a new position in Apollo Global Management during the second quarter valued at approximately $655,000. Ancora Advisors LLC bought a new position in Apollo Global Management during the second quarter valued at approximately $6,841,000. Finally, Canada Pension Plan Investment Board bought a new position in Apollo Global Management during the second quarter valued at approximately $3,610,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $135.39 on Friday. The firm has a 50 day moving average of $126.22 and a 200 day moving average of $122.87. 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 firm has a market capitalization of $79.95 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 1.20 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.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. On average, research analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on APO. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. BMO Capital Markets lowered their price target on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Morgan Stanley dropped their price target on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Finally, HSBC started coverage on Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $152.77.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is owned by company insiders.

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.