Apollo Global Management Inc. $APO Position Boosted by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors increased its Apollo Global Management stake by 118.2% in the second quarter, bringing its holdings to 65,700 shares valued at $7.77 million. Institutional investors collectively own 77.06% of APO.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $152.15. Recent targets range from $145 to $164.
• Apollo shares opened at $133.65, while the company’s latest quarterly results came in slightly below expectations, reporting $2.11 in EPS and $5.57 billion in revenue. The firm also announced a quarterly dividend of $0.5625 per share, representing a 1.7% yield.

Concurrent Investment Advisors LLC increased its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 118.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,700 shares of the financial services provider's stock after purchasing an additional 35,594 shares during the period. Concurrent Investment Advisors LLC's holdings in Apollo Global Management were worth $7,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Geode Capital Management LLC raised its position in shares of Apollo Global Management by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock valued at $1,469,793,000 after acquiring an additional 200,312 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Apollo Global Management by 4.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock worth $669,372,000 after purchasing an additional 234,517 shares during the period. Northern Trust Corp raised its holdings in shares of Apollo Global Management by 1.4% during the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock worth $643,982,000 after purchasing an additional 62,831 shares during the period. Legal & General Group Plc bought a new position in shares of Apollo Global Management in the 2nd quarter worth about $459,987,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after buying an additional 98,945 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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. HSBC initiated coverage on shares of Apollo Global Management in a report on Monday, July 20th. They issued a "buy" rating and a $145.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Apollo Global Management from $150.00 to $154.00 and gave the company an "overweight" rating in a research note on Wednesday. Wall Street Zen raised Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Finally, Barclays increased their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $152.15.

Apollo Global Management Stock Down 0.6%

APO stock opened at $133.65 on Friday. The stock has a market cap of $78.93 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. The firm's 50-day simple moving average is $127.03 and its 200 day simple moving average is $123.05. 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 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (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 firm had revenue of $5.57 billion for 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, sell-side analysts predict 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 was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management's payout ratio is currently 82.42%.

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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