Groupama Asset Managment Purchases New Position in Apollo Global Management Inc. $APO

Key Points

• Groupama Asset Management has purchased 6,218 shares of Apollo Global Management, valued at approximately $852,000, marking their entry into the stock during the first quarter.
• Analysts have recently raised their price targets for Apollo Global Management, with estimates ranging from $160.00 to $173.00, maintaining a consensus rating of "Moderate Buy."
• Apollo Global Management announced a quarterly dividend of $0.51 per share, representing an annualized yield of 1.5% and a payout ratio of 38.13%.

Groupama Asset Managment purchased a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,218 shares of the financial services provider's stock, valued at approximately $852,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ellevest Inc. lifted its holdings in shares of Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 67 shares in the last quarter. Vivaldi Capital Management LP lifted its holdings in shares of Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after purchasing an additional 71 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Apollo Global Management by 14.4% during the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 78 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 79 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC increased its position in Apollo Global Management by 3.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 80 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

APO traded up $0.0650 during midday trading on Friday, reaching $134.0750. The company had a trading volume of 3,419,831 shares, compared to its average volume of 3,279,031. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $142.91 and a two-hundred day moving average of $139.32. The company has a market cap of $76.69 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

Insider Activity

In related news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APO shares. Piper Sandler reduced their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Barclays upped their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. UBS Group reduced their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup upped their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of "Moderate Buy" and an average target price of $163.28.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.