112,385 Shares in Apollo Global Management Inc. $APO Acquired by RDST Capital LLC

RDST Capital LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, HoldingsChannel reports. The firm bought 112,385 shares of the financial services provider’s stock, valued at approximately $13,296,000. Apollo Global Management makes up approximately 1.1% of RDST Capital LLC’s holdings, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of APO. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth $29,000. MBM Wealth Consultants LLC purchased a new stake in shares of Apollo Global Management in the first quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Keating Financial Advisory Services Inc. acquired a new stake in Apollo Global Management during the second quarter worth about $31,000. Finally, Osbon Capital Management LLC acquired a new stake in Apollo Global Management during the fourth quarter worth about $36,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Up 0.0%

Shares of APO opened at $132.72 on Tuesday. The company’s 50-day moving average price is $126.57 and its 200 day moving average price is $122.72. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. 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 cap of $78.38 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last announced its 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 company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the business earned $1.92 EPS. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on APO. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. BMO Capital Markets cut their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a report on Monday, July 13th. Royal Bank Of Canada lifted their price target on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Morgan Stanley decreased their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Finally, Piper Sandler lowered their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 3,000 shares of the company’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 owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.30% of the company’s stock.

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.