Legal & General Group Plc Raises Stock Position in Apollo Global Management Inc. $APO

Legal & General Group Plc increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,611,839 shares of the financial services provider’s stock after purchasing an additional 155,857 shares during the period. Legal & General Group Plc owned approximately 0.62% of Apollo Global Management worth $522,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in APO. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 3.0% during the third quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider’s stock worth $6,319,617,000 after purchasing an additional 1,377,545 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Apollo Global Management by 31.1% during the third quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after purchasing an additional 383,198 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Apollo Global Management by 62.0% during the third quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider’s stock worth $132,834,000 after purchasing an additional 381,479 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Apollo Global Management by 7.3% during the third quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after purchasing an additional 299,698 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Apollo Global Management during the fourth quarter worth $40,454,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on APO shares. Argus raised shares of Apollo Global Management to a “strong-buy” rating in a report on Thursday, February 19th. The Goldman Sachs Group reduced their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. UBS Group raised 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. Piper Sandler dropped their price target on shares of Apollo Global Management from $165.00 to $146.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.38.

Apollo Global Management Stock Down 0.0%

APO stock opened at $128.50 on Tuesday. The firm has a market cap of $74.08 billion, a PE ratio of 81.85, a P/E/G ratio of 1.08 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm’s fifty day moving average is $119.37 and its 200 day moving average is $127.97. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28.

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 company had revenue of $5.06 billion for 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 firm’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. On average, research analysts forecast that Apollo Global Management Inc. will post 8.29 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is presently 143.31%.

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.