103,326 Apollo Global Management Inc. $APO Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Apollo Global Management stake by 174% in the third quarter, acquiring 103,326 shares for a total holding of 162,715 shares valued at approximately $18.9 million. Institutional investors collectively own 77.06% of Apollo’s stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and six Hold ratings. Apollo has a consensus rating of “Moderate Buy” and an average price target of $151.90.
• Apollo’s latest quarterly results fell slightly short of expectations, reporting $2.11 in earnings per share versus a $2.16 estimate and $5.57 billion in revenue versus $5.65 billion expected. The company also pays a quarterly dividend of $0.5625 per share, representing a 2.0% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 174.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,715 shares of the financial services provider's stock after purchasing an additional 103,326 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Apollo Global Management were worth $18,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of APO. Legal & General Group Plc bought a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $459,987,000. Bank of New York Mellon Corp bought a new position in Apollo Global Management in the second quarter worth about $336,644,000. Temasek Holdings Private Ltd lifted its holdings in Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after buying an additional 1,614,813 shares during the period. Deutsche Bank AG purchased a new stake in Apollo Global Management in the second quarter worth about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Apollo Global Management in the second quarter worth about $136,528,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APO has been the topic of a number of research analyst reports. Rothschild & Co Redburn upped their target price on Apollo Global Management from $171.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Wall Street Zen raised Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. HSBC initiated coverage on Apollo Global Management in a research note on Monday, July 20th. They issued a "buy" rating and a $145.00 target price for the company. Evercore raised their target price on Apollo Global Management from $145.00 to $146.00 in a research note on Thursday, October 8th. Finally, Piper Sandler dropped their price target on Apollo Global Management from $159.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.90.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were 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 of the company's stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $111.36 on Wednesday. The stock has a market cap of $65.76 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 0.99 and a beta of 1.58. The firm's 50-day moving average is $125.77 and its 200 day moving average is $125.23. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion for 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 business posted $1.92 earnings per share. Sell-side analysts anticipate that Apollo Global Management Inc. will post 7.99 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. Apollo Global Management's dividend payout ratio is presently 82.42%.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.

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