Select Equity Group L.P. grew its stake in Apollo Global Management, Inc. (NYSE:APO) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 973,941 shares of the financial services provider’s stock after acquiring an additional 38,955 shares during the quarter. Select Equity Group L.P.’s holdings in Apollo Global Management were worth $45,785,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Xponance Inc. lifted its position in shares of Apollo Global Management by 2.3% in the first quarter. Xponance Inc. now owns 8,919 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 198 shares in the last quarter. Arizona State Retirement System lifted its position in Apollo Global Management by 0.4% during the first quarter. Arizona State Retirement System now owns 49,480 shares of the financial services provider’s stock worth $2,326,000 after buying an additional 205 shares during the period. Purus Wealth Management LLC lifted its position in Apollo Global Management by 1.2% during the first quarter. Purus Wealth Management LLC now owns 18,926 shares of the financial services provider’s stock worth $890,000 after buying an additional 221 shares during the period. M&T Bank Corp lifted its position in Apollo Global Management by 3.2% during the fourth quarter. M&T Bank Corp now owns 7,830 shares of the financial services provider’s stock worth $383,000 after buying an additional 244 shares during the period. Finally, Gamco Investors INC. ET AL lifted its position in Apollo Global Management by 3.7% during the first quarter. Gamco Investors INC. ET AL now owns 8,500 shares of the financial services provider’s stock worth $400,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.
Several research firms recently weighed in on APO. Morgan Stanley increased their target price on Apollo Global Management from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their target price on Apollo Global Management from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 5th. Oppenheimer upgraded Apollo Global Management from a “market perform” rating to an “outperform” rating and set a $59.00 price objective on the stock in a report on Tuesday, April 20th. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Apollo Global Management from $49.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Apollo Global Management currently has a consensus rating of “Buy” and a consensus price target of $62.64.
Apollo Global Management (NYSE:APO) last posted its earnings results on Monday, May 3rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. Apollo Global Management had a return on equity of 17.46% and a net margin of 29.94%. The business had revenue of $512.94 million during the quarter, compared to analyst estimates of $502.99 million. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, research analysts expect that Apollo Global Management, Inc. will post 3.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Thursday, May 20th were paid a $0.50 dividend. The ex-dividend date was Wednesday, May 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. Apollo Global Management’s dividend payout ratio (DPR) is currently 99.01%.
In other news, Director Pauline Richards bought 2,120 shares of the firm’s stock in a transaction dated Tuesday, May 11th. The stock was bought at an average price of $57.16 per share, for a total transaction of $121,179.20. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joshua Harris sold 447,272 shares of Apollo Global Management stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $55.91, for a total value of $25,006,977.52. Following the completion of the transaction, the insider now owns 1,350,000 shares of the company’s stock, valued at approximately $75,478,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,755,925 shares of company stock valued at $102,829,396. Insiders own 9.30% of the company’s stock.
Apollo Global Management Profile
Apollo Global Management, Inc is a private equity firm specializing investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
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