Apollo Global Management Inc. (NYSE:APO) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its holdings in Apollo Global Management by 12.1%, owning 344,914 shares valued at approximately $47.26 million following the purchase of 37,322 additional shares.
• Apollo Global Management reported earnings of $1.92 per share for the last quarter, exceeding analysts' expectations of $1.84, and observed significant revenue growth compared to the previous year.
• The company declared a quarterly dividend of $0.51 per share, with an ex-dividend date set for August 18, reflecting a 1.4% yield and a payout ratio of 38.13%.

National Bank of Canada FI raised its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 344,914 shares of the financial services provider's stock after purchasing an additional 37,322 shares during the period. National Bank of Canada FI owned 0.06% of Apollo Global Management worth $47,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Apollo Global Management by 12.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 752,384 shares of the financial services provider's stock valued at $103,031,000 after purchasing an additional 82,319 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in Apollo Global Management by 14.4% in the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock worth $85,000 after acquiring an additional 78 shares in the last quarter. Accuvest Global Advisors boosted its holdings in Apollo Global Management by 9.7% in the first quarter. Accuvest Global Advisors now owns 24,567 shares of the financial services provider's stock worth $3,364,000 after acquiring an additional 2,167 shares in the last quarter. Deutsche Bank AG boosted its holdings in Apollo Global Management by 5.9% in the first quarter. Deutsche Bank AG now owns 1,263,238 shares of the financial services provider's stock worth $172,988,000 after acquiring an additional 70,670 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Apollo Global Management by 10.0% in the first quarter. Chicago Partners Investment Group LLC now owns 41,865 shares of the financial services provider's stock worth $5,415,000 after acquiring an additional 3,821 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on APO. Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Piper Sandler decreased their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Morgan Stanley dropped their target price on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. UBS Group dropped their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup upped their target price on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.26.

Apollo Global Management Stock Up 1.8%

APO stock traded up $2.51 during trading on Tuesday, hitting $144.63. 2,913,189 shares of the company's stock were exchanged, compared to its average volume of 3,064,792. The business has a 50-day moving average price of $142.32 and a two-hundred day moving average price of $141.02. The stock has a market capitalization of $82.66 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.48 and a beta of 1.62. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. 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 earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $1.64 EPS. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

Insider Buying and Selling

In related news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Company 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.