Rakuten Investment Management Inc. Purchases Shares of 73,021 Apollo Global Management Inc. $APO

Rakuten Investment Management Inc. purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the second quarter, HoldingsChannel.com reports. The firm purchased 73,021 shares of the financial services provider’s stock, valued at approximately $8,385,000.

Several other institutional investors have also recently made changes to their positions in APO. Orion Capital Management LLC bought a new position in shares of Apollo Global Management in the second quarter worth about $65,000. Comprehensive Money Management Services LLC bought a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $247,000. Empowered Funds LLC purchased a new stake in Apollo Global Management in the 2nd quarter worth approximately $4,341,000. United Capital Financial Advisors LLC bought a new stake in Apollo Global Management during the 2nd quarter worth approximately $842,000. Finally, Equitable Holdings Inc. bought a new position in shares of Apollo Global Management in the second quarter worth approximately $1,460,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Morgan Stanley cut their price target on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, BMO Capital Markets dropped their price objective on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Performance

APO opened at $135.39 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $79.95 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.22 and a beta of 1.51. The company has a fifty day moving average of $126.22 and a 200 day moving average of $122.87. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Apollo Global Management Company 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.