Apollo Global Management Inc. $APO Stock Holdings Boosted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Apollo Global Management stake by 301.5% in the second quarter, owning 268,714 shares valued at approximately $31.8 million. Institutional investors collectively hold 77.06% of APO shares.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $152.77. UBS and Barclays recently raised their price targets, while Piper Sandler made a modest reduction.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while announcing a quarterly dividend of $0.5625 per share, equivalent to a 1.8% annualized yield.

Assenagon Asset Management S.A. lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 301.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 268,714 shares of the financial services provider's stock after buying an additional 201,791 shares during the period. Assenagon Asset Management S.A.'s holdings in Apollo Global Management were worth $31,792,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of APO. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $29,000. MBM Wealth Consultants LLC acquired a new position in shares of Apollo Global Management in the 1st quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. grew its stake in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $36,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on 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 in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on APO shares. Wall Street Zen upgraded shares of Apollo Global Management from a "strong sell" rating to a "sell" rating in a report on Sunday, August 2nd. Piper Sandler dropped their price target on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. UBS Group increased their price objective on Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays raised their price objective on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, TD Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.77.

Apollo Global Management Stock Down 0.5%

APO stock opened at $127.30 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.73. The firm has a market capitalization of $73.39 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.13 and a beta of 1.51. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The company's 50 day simple moving average is $125.39 and its 200-day simple moving average is $122.77.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the business posted $1.92 EPS. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 8.17 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a $0.5625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. Apollo Global Management's dividend payout ratio is presently 82.42%.

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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