Apollo Global Management Inc. $APO Holdings Raised by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in Apollo Global Management by 2.1% in the first quarter, owning 524,609 shares valued at about $58.45 million.
• Analyst sentiment remains positive overall: Apollo has a Moderate Buy consensus, with a target price of $149.50, though several firms recently trimmed their price targets.
• Apollo reported Q1 EPS of $1.94, topping estimates, and recently raised its quarterly dividend to $0.5625 per share from $0.51.

Principal Financial Group Inc. lifted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 524,609 shares of the financial services provider's stock after purchasing an additional 11,016 shares during the quarter. Principal Financial Group Inc. owned 0.09% of Apollo Global Management worth $58,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management in the fourth quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management in the first quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Apollo Global Management by 484.1% during the first 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 acquired a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. lifted its position 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 valued at $38,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings lowered Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Piper Sandler decreased their target price on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Finally, UBS Group upped their price target on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $149.50.

Apollo Global Management Stock Down 2.3%

APO stock opened at $120.51 on Friday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $156.89. 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 company has a market cap of $69.48 billion, a price-to-earnings ratio of 76.76, a PEG ratio of 1.07 and a beta of 1.50. The company has a 50 day moving average of $127.52 and a two-hundred day moving average of $125.06.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $1.82 EPS. The company's revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8.23 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management's payout ratio is 143.31%.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction dated 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 transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.30% of the stock is owned by company insiders.

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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