Apollo Global Management Inc. $APO Shares Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Apollo Global Management by 7.1% in the fourth quarter, adding 59,585 shares to bring its total to 894,451 shares valued at about $129.8 million.
• Apollo reported quarterly earnings of $1.94 per share, topping analyst estimates, though revenue of $5.06 billion came in below expectations and fell 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, while analysts currently have a Moderate Buy consensus target price of $151.23 for the stock.

Hsbc Holdings PLC grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 894,451 shares of the financial services provider's stock after buying an additional 59,585 shares during the period. Hsbc Holdings PLC owned 0.15% of Apollo Global Management worth $129,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $29,000. Osbon Capital Management LLC purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $36,000. Physician Wealth Advisors Inc. increased its stake in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $42,000. Finally, City Holding Co. raised its holdings in Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock worth $44,000 after purchasing an additional 243 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 8.30% of the company's stock.

Apollo Global Management Stock Performance

Shares of APO opened at $137.85 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a market cap of $79.47 billion, a PE ratio of 87.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.50. The company's 50 day simple moving average is $128.15 and its 200-day simple moving average is $128.21. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period in the previous year, the company posted $1.82 EPS. The company's quarterly revenue was down 8.8% on a year-over-year basis. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.6%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's payout ratio is currently 143.31%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APO. Piper Sandler boosted their price objective on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their price target on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Evercore restated an "outperform" rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $151.23.

Apollo Global Management 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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