267,669 Shares in Apollo Global Management Inc. $APO Acquired by Saba Capital Management L.P.

Key Points

• Saba Capital Management acquired 267,669 shares of Apollo Global Management worth approximately $29.8 million, making APO its 18th-largest portfolio holding. Institutional investors collectively own 77.06% of the company.
• Apollo reported quarterly EPS of $1.94, beating estimates of $1.89, while revenue fell 8.8% year over year to $5.06 billion, below expectations. The company also raised its quarterly dividend to $0.5625 per share, producing a 1.8% yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $149.08, versus a recent share price of $124.32.

Saba Capital Management L.P. bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 267,669 shares of the financial services provider's stock, valued at approximately $29,824,000. Apollo Global Management accounts for 0.8% of Saba Capital Management L.P.'s investment portfolio, making the stock its 18th biggest position.

Several other large investors have also modified their holdings of APO. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management during the fourth quarter worth about $29,000. MBM Wealth Consultants LLC acquired a new stake in shares of Apollo Global Management during the first quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. raised its stake in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 213 shares during the period. Osbon Capital Management LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. lifted its holdings in shares of Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO opened at $124.32 on Tuesday. The company has a market cap of $71.68 billion, a P/E ratio of 79.19, a PEG ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average price is $125.98 and its 200 day moving average price is $123.76.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm's revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. On average, research analysts forecast that Apollo Global Management Inc. will post 8.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. Apollo Global Management's payout ratio is 143.31%.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods upgraded Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. TD Cowen lowered their price target on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, May 18th. UBS Group lifted their price objective on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, 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 report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $149.08.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.30% of the company's stock.

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.

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