Varma Mutual Pension Insurance Co Invests $11.37 Million in Apollo Global Management Inc. $APO

Varma Mutual Pension Insurance Co purchased a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, Holdings Channel reports. The fund purchased 96,101 shares of the financial services provider’s stock, valued at approximately $11,370,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Apollo Global Management by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after buying an additional 200,312 shares during the period. Northern Trust Corp grew its position in shares of Apollo Global Management by 1.4% during the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock worth $643,982,000 after buying an additional 62,831 shares during the period. Legal & General Group Plc raised its stake in shares of Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after buying an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after buying an additional 98,945 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Piper Sandler cut their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Barclays raised their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” 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 for the company in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider 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 filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was 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 of the company’s stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Trading Down 0.0%

Shares of NYSE APO opened at $132.63 on Monday. The company’s fifty day moving average is $126.64 and its 200-day moving average is $122.68. The stock has a market cap of $78.32 billion, a price-to-earnings ratio of 48.58, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve 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.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $1.92 EPS. Equities research analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm 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 $0.5625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is currently 82.42%.

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.