Apollo Global Management Inc. $APO Position Boosted by Cobalt Capital Management Inc.

Cobalt Capital Management Inc. lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 77.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 160,000 shares of the financial services provider’s stock after buying an additional 70,000 shares during the quarter. Apollo Global Management accounts for approximately 10.3% of Cobalt Capital Management Inc.’s holdings, making the stock its 4th largest position. Cobalt Capital Management Inc.’s holdings in Apollo Global Management were worth $23,162,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at $29,000. Physician Wealth Advisors Inc. grew its holdings in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Apollo Global Management in the fourth quarter worth about $42,000. City Holding Co. grew its holdings in shares of Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 243 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APO shares. The Goldman Sachs Group cut 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 report on Tuesday, April 7th. Piper Sandler increased their target price on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Royal Bank Of Canada increased their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.23.

Apollo Global Management Stock Performance

APO stock opened at $138.72 on Thursday. The firm has a market cap of $79.98 billion, a price-to-earnings ratio of 88.36, a PEG ratio of 1.19 and a beta of 1.50. The firm has a 50-day simple moving average of $126.88 and a two-hundred day simple moving average of $128.12. 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 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. On average, equities analysts forecast that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.30% of the company’s stock.

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.