AM Investment Strategies LLC Buys 6,338 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• AM Investment Strategies LLC increased its holdings in Apollo Global Management by 11.2% during Q1, acquiring an additional 6,338 shares, bringing their total to 62,976 shares valued at approximately $8.62 million.
• Apollo Global Management reported earnings of $1.82 EPS, missing analysts' estimates by $0.02, with a year-over-year revenue decrease of 21.2%.
• The company recently announced a dividend increase to $0.51 per share, up from $0.46, reflecting a 1.34% dividend yield and a payout ratio of 35.73%.

AM Investment Strategies LLC raised its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,976 shares of the financial services provider's stock after buying an additional 6,338 shares during the quarter. Apollo Global Management comprises 2.1% of AM Investment Strategies LLC's investment portfolio, making the stock its 13th largest position. AM Investment Strategies LLC's holdings in Apollo Global Management were worth $8,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after buying an additional 1,886,146 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Apollo Global Management by 36.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares during the period. Northern Trust Corp grew its position in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Apollo Global Management by 200,666.6% during the fourth quarter. Bessemer Group Inc. now owns 1,226,684 shares of the financial services provider's stock worth $202,598,000 after acquiring an additional 1,226,073 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Down 0.0%

Shares of NYSE:APO opened at $151.84 on Friday. The company has a fifty day moving average of $139.46 and a 200-day moving average of $142.94. The company has a market capitalization of $86.78 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.71 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the company posted $1.72 earnings per share. Apollo Global Management's quarterly revenue was down 21.2% on a year-over-year basis. On average, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.51 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.34%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler cut their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company boosted their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Bank of America raised their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.00.

Apollo Global Management Company 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.

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