Saudi Central Bank Increases Position in Apollo Global Management Inc. $APO

Saudi Central Bank grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 82.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,346 shares of the financial services provider’s stock after buying an additional 13,278 shares during the quarter. Saudi Central Bank’s holdings in Apollo Global Management were worth $3,472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Compass Financial Management LLC bought a new position in Apollo Global Management in the 2nd quarter valued at $211,000. Syon Capital LLC bought a new stake in shares of Apollo Global Management during the second quarter worth $297,000. Concurrent Investment Advisors LLC boosted its stake in shares of Apollo Global Management by 118.2% during the second quarter. Concurrent Investment Advisors LLC now owns 65,700 shares of the financial services provider’s stock valued at $7,773,000 after purchasing an additional 35,594 shares during the period. NEOS Investment Management LLC grew its holdings in shares of Apollo Global Management by 12.4% in the second quarter. NEOS Investment Management LLC now owns 75,028 shares of the financial services provider’s stock worth $8,877,000 after purchasing an additional 8,289 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new position in Apollo Global Management in the 2nd quarter worth about $30,000. 77.06% of the stock is owned by institutional investors.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The shares were 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 of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $133.65 on Monday. The firm has a 50 day moving average of $127.03 and a 200 day moving average of $123.03. 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 has a market capitalization of $78.93 billion, a price-to-earnings ratio of 48.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 business posted $1.92 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a $0.5625 dividend. The ex-dividend date was 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 currently 82.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APO shares. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. HSBC began coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 target price on the stock. Morgan Stanley decreased their price target 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. Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Royal Bank Of Canada raised their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.15.

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.