Apollo Global Management Inc. $APO Stake Lifted by OCO Capital Partners L.P.

OCO Capital Partners L.P. raised its position in shares of Apollo Global Management Inc. (NYSE:APO) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 450,000 shares of the financial services provider’s stock after purchasing an additional 25,000 shares during the period. Apollo Global Management comprises 12.5% of OCO Capital Partners L.P.’s portfolio, making the stock its 3rd biggest position. OCO Capital Partners L.P.’s holdings in Apollo Global Management were worth $65,142,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after buying an additional 340,956 shares during the period. Geode Capital Management LLC lifted its stake in Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after acquiring an additional 200,312 shares during the period. Northern Trust Corp lifted its stake in Apollo Global Management by 7.3% in the third quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after acquiring an additional 299,698 shares during the period. Legal & General Group Plc grew its holdings in Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after acquiring an additional 155,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after acquiring an additional 98,945 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $138.41 on Wednesday. The company has a market capitalization of $79.80 billion, a PE ratio of 88.16, a P/E/G ratio of 1.17 and a beta of 1.50. The company has a 50-day simple moving average of $126.23 and a two-hundred day simple moving average of $128.06. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $1.82 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. Research analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.6%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s payout ratio is 143.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APO. Morgan Stanley reduced their price target on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group dropped their price objective 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. UBS Group lifted their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a report on Friday, May 8th. BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. Finally, Argus upgraded Apollo Global Management to a “strong-buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.23.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently 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.