Goodnow Investment Group LLC Acquires Shares of 118,461 Apollo Global Management Inc. $APO

Goodnow Investment Group LLC bought a new position in Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 118,461 shares of the financial services provider’s stock, valued at approximately $14,015,000. Apollo Global Management accounts for approximately 1.5% of Goodnow Investment Group LLC’s holdings, making the stock its 18th biggest position.

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

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The transaction 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 firm’s 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 completion of the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on APO shares. Morgan Stanley reduced their target price on shares of 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Barclays increased their price objective on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Piper Sandler cut their price objective 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. Finally, Wall Street Zen raised Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Apollo Global Management Trading Up 0.0%

Apollo Global Management stock opened at $132.72 on Tuesday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $78.38 billion, a PE ratio of 48.62, a PEG ratio of 1.20 and a beta of 1.51. The business’s 50-day simple moving average is $126.57 and its 200-day simple moving average is $122.72.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The business 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 last year, the business earned $1.92 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently announced 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 yield of 1.7%. Apollo Global Management’s payout ratio is 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.