PointState Capital LP Acquires 332,263 Shares of Apollo Global Management Inc. $APO

Key Points

• PointState Capital LP has increased its holdings in Apollo Global Management Inc. by 117.5%, acquiring 332,263 additional shares and making Apollo its 23rd largest holding.
• Apollo Global Management recently reported an EPS of $1.92 for the quarter, beating estimates, and has announced a quarterly dividend of $0.51 per share.
• Analysts have raised their price targets for Apollo Global Management, with estimates now ranging as high as $173.00, indicating a generally positive outlook among equity research analysts.

PointState Capital LP lifted its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 117.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,953 shares of the financial services provider's stock after acquiring an additional 332,263 shares during the quarter. Apollo Global Management makes up 1.2% of PointState Capital LP's holdings, making the stock its 23rd biggest holding. PointState Capital LP owned about 0.11% of Apollo Global Management worth $84,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Aptus Capital Advisors LLC increased its holdings in shares of Apollo Global Management by 7.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 2,147 shares of the financial services provider's stock valued at $355,000 after acquiring an additional 145 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Apollo Global Management by 29.4% during the fourth quarter. Baird Financial Group Inc. now owns 5,452 shares of the financial services provider's stock valued at $900,000 after buying an additional 1,238 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Apollo Global Management by 151.2% during the fourth quarter. Captrust Financial Advisors now owns 7,559 shares of the financial services provider's stock valued at $1,249,000 after buying an additional 4,550 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Apollo Global Management by 17.6% during the fourth quarter. Cetera Investment Advisers now owns 64,609 shares of the financial services provider's stock valued at $10,671,000 after buying an additional 9,657 shares during the last quarter. Finally, Colonial Trust Co SC boosted its position in shares of Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after buying an additional 79 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Performance

Shares of APO traded up $3.78 during mid-day trading on Thursday, hitting $137.42. The stock had a trading volume of 1,290,135 shares, compared to its average volume of 3,582,799. The firm has a market cap of $78.61 billion, a P/E ratio of 25.69, a PEG ratio of 1.45 and a beta of 1.69. The business has a fifty day moving average price of $142.18 and a 200-day moving average price of $137.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the previous year, the company posted $1.64 earnings per share. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Apollo Global Management's payout ratio is presently 38.13%.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup lifted their target price on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Barclays boosted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Evercore ISI boosted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. 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's stock. According to data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management 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.