Corient Private Wealth LP Invests $27.93 Million in Apollo Global Management Inc. $APO

Corient Private Wealth LP bought a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 236,058 shares of the financial services provider’s stock, valued at approximately $27,928,000.

Several other hedge funds also recently made changes to their positions in APO. Legal & General Group Plc grew its stake in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $1,599,000. Louisiana State Employees Retirement System acquired a new stake in Apollo Global Management in the 1st quarter valued at about $2,641,000. State of New Jersey Common Pension Fund D lifted its stake in Apollo Global Management by 6.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 148,803 shares of the financial services provider’s stock valued at $21,541,000 after purchasing an additional 9,055 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Apollo Global Management by 13.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider’s stock worth $9,773,000 after purchasing an additional 8,003 shares during the period. 77.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $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 SEC, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $133.41 on Friday. The firm has a market cap of $78.78 billion, a PE ratio of 48.87, a PEG ratio of 1.21 and a beta of 1.51. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average price is $126.27 and its two-hundred day moving average price is $122.78.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period in the prior year, the firm earned $1.92 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company 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 annualized dividend and a yield of 1.7%. Apollo Global Management’s dividend payout ratio is currently 82.42%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HSBC initiated coverage on Apollo Global Management in a research note on Monday, July 20th. They set a “buy” rating and a $145.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. UBS Group increased their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. Finally, TD Cowen restated a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.77.

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.