Apollo Global Management Inc. $APO Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Apollo Global Management stake by 10.6% in the fourth quarter, bringing its holdings to 2.71 million shares worth about $392.7 million.
• Apollo reported Q1 earnings of $1.94 per share, beating analyst expectations, though revenue of $5.06 billion came in below estimates and fell 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, while analysts currently maintain a Moderate Buy consensus with a $151.23 price target.

Bank of New York Mellon Corp boosted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,712,442 shares of the financial services provider's stock after buying an additional 260,905 shares during the quarter. Bank of New York Mellon Corp owned 0.47% of Apollo Global Management worth $392,653,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Apollo Global Management by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider's stock worth $6,319,617,000 after purchasing an additional 1,377,545 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Apollo Global Management by 31.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider's stock valued at $215,530,000 after acquiring an additional 383,198 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Apollo Global Management by 62.0% during the 3rd quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider's stock valued at $132,834,000 after acquiring an additional 381,479 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Apollo Global Management by 7.3% during the 3rd quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider's stock valued at $584,494,000 after acquiring an additional 299,698 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Apollo Global Management during the 4th quarter valued at $40,454,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APO. Morgan Stanley lowered their price target on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Piper Sandler boosted their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. lowered their price target on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, February 10th. Royal Bank Of Canada boosted their price target 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. Finally, UBS Group boosted their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.23.

Apollo Global Management Trading Up 3.1%

Shares of NYSE:APO opened at $128.26 on Friday. The stock has a market capitalization of $73.95 billion, a PE ratio of 81.70, a P/E/G ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The firm has a fifty day moving average price of $122.44 and a 200 day moving average price of $127.79. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's dividend payout ratio is currently 143.31%.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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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