OP Asset Management Ltd Purchases Shares of 44,462 Apollo Global Management Inc. $APO

OP Asset Management Ltd purchased a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 44,462 shares of the financial services provider’s stock, valued at approximately $4,954,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of APO. Chesapeake Asset Management LLC lifted its holdings in shares of Apollo Global Management by 3.6% in the fourth quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock valued at $299,000 after buying an additional 72 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in Apollo Global Management by 0.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 80 shares during the period. Sunbelt Securities Inc. raised its position in Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 82 shares in the last quarter. United Advisor Group LLC raised its position in Apollo Global Management by 4.7% in the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 87 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. lifted its holdings in Apollo Global Management by 3.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 2.3%

Shares of Apollo Global Management stock opened at $118.66 on Friday. The stock has a 50-day moving average price of $129.59 and a 200 day moving average price of $127.93. The company has a market cap of $68.41 billion, a P/E ratio of 75.58, a P/E/G ratio of 1.05 and a beta of 1.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28.

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

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors 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 boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s payout ratio is presently 143.31%.

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, May 8th. The Goldman Sachs Group decreased 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 research report on Tuesday, April 7th. TD Cowen reduced their price objective on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.23.

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.