DnB Asset Management AS Boosts Stock Position in Apollo Global Management Inc. $APO

Key Points

• DnB Asset Management AS increased its stake in Apollo Global Management by 48.9%, owning approximately 310,358 shares valued at $42.5 million.
• Analysts have shown a positive outlook with target price increases from Citigroup, Evercore ISI, and Barclays, suggesting strong investor confidence in Apollo's future performance.
• Recent insider trading saw CFO Martin Kelly selling 15,500 shares for over $2.24 million, signaling a reduction in insider holdings.

DnB Asset Management AS lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 310,358 shares of the financial services provider's stock after purchasing an additional 101,919 shares during the quarter. DnB Asset Management AS owned about 0.05% of Apollo Global Management worth $42,500,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after purchasing an additional 706,181 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Apollo Global Management by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock valued at $412,641,000 after acquiring an additional 112,736 shares during the last quarter. Boston Partners bought a new position in Apollo Global Management in the first quarter valued at $370,543,000. Finally, Allen Investment Management LLC increased its stake in Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock valued at $361,664,000 after acquiring an additional 333,428 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 2.2%

Shares of NYSE:APO traded up $2.86 on Monday, reaching $134.41. 3,247,142 shares of the company traded hands, compared to its average volume of 3,600,379. The business's 50-day simple moving average is $142.65 and its 200 day simple moving average is $137.35. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The stock has a market capitalization of $76.89 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm earned $1.64 earnings per share. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APO. Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Citigroup increased their target price on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Barclays increased their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.56.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated 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 owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

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.