8,367 Shares in Apollo Global Management Inc. $APO Acquired by William Blair Investment Management LLC

Key Points

• William Blair Investment Management acquired 8,367 Apollo Global Management shares during the second quarter, valued at approximately $990,000. Other institutional investors also initiated positions, and institutions collectively own 77.06% of APO.
• Apollo insiders recently reduced their holdings, including stock sales by insider John P. Zito and CFO Martin Kelly. Insiders still own 8.30% of the company.
• Apollo reported quarterly revenue of $5.57 billion and EPS of $2.11, slightly below analyst estimates. The company declared a quarterly dividend of $0.5625 per share, while analysts maintain a consensus “Moderate Buy” rating with a $152.77 target price.

William Blair Investment Management LLC purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,367 shares of the financial services provider's stock, valued at approximately $990,000.

A number of other large investors also recently modified their holdings of the company. Korea Investment CORP purchased a new stake in shares of Apollo Global Management during the 2nd quarter worth $22,192,000. EP Wealth Advisors LLC acquired a new position in shares of Apollo Global Management during the second quarter worth $3,476,000. Ieq Capital LLC purchased a new position in Apollo Global Management in the second quarter valued at $3,884,000. Callan Family Office LLC acquired a new stake in Apollo Global Management in the second quarter valued at $847,000. Finally, Lalia Capital LLC purchased a new position in shares of Apollo Global Management in the 2nd quarter valued at about $11,003,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 8.30% of the company's stock.

Apollo Global Management Price Performance

APO stock opened at $132.63 on Monday. The company has a market capitalization of $78.32 billion, a P/E ratio of 48.58, a PEG ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The business has a 50 day simple moving average of $126.64 and a 200-day simple moving average of $122.68. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on APO shares. Barclays boosted their target price on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a research report on Monday, July 13th. TD Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.77.

Apollo Global Management Profile

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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