Alyeska Investment Group L.P. Increases Position in Apollo Global Management Inc. $APO

Key Points

• Alyeska Investment Group L.P. increased its stake in Apollo Global Management by 1,091.1%, acquiring 521,249 additional shares, bringing its total to 569,021 shares valued at approximately $77.9 million.
• Several analysts have raised their price targets for Apollo Global Management, with Citigroup setting a new target of $170.00, reflecting strong investor sentiment towards the firm's growth potential.
• Insider selling activity included CFO Martin Kelly selling 15,500 shares valued at $2.25 million, indicating a notable decrease in insider ownership amid these stock movements.

Alyeska Investment Group L.P. lifted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1,091.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,021 shares of the financial services provider's stock after acquiring an additional 521,249 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.10% of Apollo Global Management worth $77,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the 4th quarter worth approximately $25,000. GW&K Investment Management LLC raised its position in Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC raised its position in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in Apollo Global Management in the 1st quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. raised its position in Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after purchasing an additional 172 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Shares of NYSE:APO traded down $3.25 during trading on Friday, hitting $131.51. 4,520,545 shares of the company were exchanged, compared to its average volume of 3,101,840. The business's 50 day moving average is $142.65 and its 200-day moving average is $137.49. The company has a market capitalization of $75.23 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the business earned $1.64 earnings per share. Equities analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management's dividend payout ratio is presently 38.13%.

Analyst Upgrades and Downgrades

Several brokerages have commented on APO. Evercore ISI upped their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup raised their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Barclays lifted their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the sale, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

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.