Apollo Global Management Inc. $APO Position Boosted by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its Apollo Global Management position by 177.6% in the third quarter, acquiring 216,966 additional shares and bringing its holdings to 339,157 shares valued at approximately $39.4 million.
• Institutional investors own 77.06% of Apollo, with several major funds—including Legal & General, Bank of New York Mellon, Boston Partners and Temasek—also increasing or initiating positions.
• Apollo shares opened at $115.34, below their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with a $150.36 average price target, despite the company narrowly missing quarterly earnings and revenue estimates.

Mn Services Vermogensbeheer B.V. boosted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 177.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,157 shares of the financial services provider's stock after purchasing an additional 216,966 shares during the period. Mn Services Vermogensbeheer B.V. owned about 0.06% of Apollo Global Management worth $39,363,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in APO. Legal & General Group Plc bought a new position in Apollo Global Management during the second quarter valued at about $459,987,000. Bank of New York Mellon Corp bought a new stake in Apollo Global Management in the second quarter worth about $336,644,000. Boston Partners raised its position in Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the period. Temasek Holdings Private Ltd boosted its stake in Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock valued at $263,861,000 after acquiring an additional 1,614,813 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Apollo Global Management in the second quarter valued at about $172,290,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Down 0.2%

Shares of APO stock opened at $115.34 on Friday. The stock has a market capitalization of $68.11 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 1.02 and a beta of 1.58. The company's fifty day simple moving average is $128.41 and its two-hundred day simple moving average is $125.01. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data 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 return on equity of 14.01% and a net margin of 5.22%.The company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period last year, the company posted $1.92 EPS. As a group, analysts anticipate that Apollo Global Management Inc. will post 8.03 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were paid a dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 2.0%. Apollo Global Management's payout ratio is currently 82.42%.

Wall Street Analysts Forecast Growth

APO has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Morgan Stanley decreased their target price on 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. Weiss Ratings upgraded Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Finally, TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.36.

Insider Buying and Selling

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

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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