Apollo Global Management Inc. $APO Stake Raised by Spinecap SAS

Key Points

• Spinecap SAS increased its Apollo Global Management stake by 28.7% in the fourth quarter, adding 49,143 shares and bringing its total to 220,649 shares worth about $31.9 million. Apollo now ranks as Spinecap’s third-largest holding.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 77.06% of Apollo’s stock. Several large firms, including Vanguard, Geode Capital, and Northern Trust, also boosted their positions.
• Analysts remain broadly positive on APO, with a consensus “Moderate Buy” rating and an average price target of $151.23. Apollo also recently beat earnings estimates, raised its quarterly dividend to $0.5625 per share, and the stock closed at $137.85.

Spinecap SAS raised its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 220,649 shares of the financial services provider's stock after buying an additional 49,143 shares during the quarter. Apollo Global Management comprises about 13.7% of Spinecap SAS's investment portfolio, making the stock its 3rd biggest position. Spinecap SAS's holdings in Apollo Global Management were worth $31,941,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock worth $6,913,826,000 after purchasing an additional 340,956 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Apollo Global Management by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock valued at $1,469,793,000 after purchasing an additional 200,312 shares in the last quarter. Northern Trust Corp lifted its holdings in Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock valued at $643,982,000 after purchasing an additional 62,831 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after purchasing an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after purchasing an additional 98,945 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the 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 owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Piper Sandler raised their target price 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. Weiss Ratings cut shares of Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Barclays boosted their price target on Apollo Global Management from $125.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, UBS Group increased their price target on Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.23.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $137.85 on Friday. The stock's 50-day moving average is $127.53 and its 200-day moving average is $128.17. The company has a market cap of $79.47 billion, a price-to-earnings ratio of 87.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. 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 issued its earnings results 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 business had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company's revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's payout ratio is presently 143.31%.

About Apollo Global Management

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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