Apollo Global Management Inc. $APO Shares Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its Apollo Global Management stake by 17.1% in the first quarter, buying 33,881 more shares and bringing its total to 231,810 shares worth about $25.8 million.
• Apollo reported Q1 earnings of $1.94 per share, topping analyst estimates, though revenue of $5.06 billion missed expectations and fell 8.8% from a year earlier.
• The company raised its quarterly dividend to $0.5625 per share, equal to an annualized yield of about 2.0%, while analysts currently rate the stock Moderate Buy with an average target price of $151.23.

Janney Montgomery Scott LLC lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,810 shares of the financial services provider's stock after purchasing an additional 33,881 shares during the quarter. Janney Montgomery Scott LLC's holdings in Apollo Global Management were worth $25,828,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in APO. Border to Coast Pensions Partnership Ltd lifted its stake in Apollo Global Management by 25.0% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 225,000 shares of the financial services provider's stock valued at $25,146,000 after buying an additional 45,000 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in shares of Apollo Global Management by 9.4% during the first quarter. Aaron Wealth Advisors LLC now owns 3,184 shares of the financial services provider's stock worth $355,000 after acquiring an additional 273 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Apollo Global Management by 7.6% in the 1st quarter. OLD National Bancorp IN now owns 6,431 shares of the financial services provider's stock valued at $717,000 after acquiring an additional 452 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Apollo Global Management in the 1st quarter valued at $2,641,000. Finally, MBM Wealth Consultants LLC purchased a new stake in Apollo Global Management in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APO. Barclays raised their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Morgan Stanley lowered their price target on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. BMO Capital Markets dropped their price target on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 24th. Finally, The Goldman Sachs Group reduced their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Stock Down 2.8%

Shares of Apollo Global Management stock opened at $115.03 on Tuesday. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28. The company has a market cap of $66.32 billion, a P/E ratio of 73.27, a PEG ratio of 1.02 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a fifty day moving average of $129.48 and a two-hundred day moving average of $127.66.

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 for the quarter, beating the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business's quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's payout ratio is presently 143.31%.

Insider Transactions at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company's stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company's stock.

Apollo Global Management Company Profile

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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