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Todd Asset Management LLC Grows Holdings in Apollo Global Management Inc. (NYSE:APO)

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Key Points

  • Todd Asset Management LLC significantly increased its stake in Apollo Global Management by 50.9% in the first quarter, making it the firm's 10th largest position.
  • Apollo Global Management's recent earnings report revealed an EPS of $1.92, surpassing analysts' expectations of $1.84.
  • The company declared a quarterly dividend of $0.51 per share, representing an annual yield of 1.4%, to be paid on August 29th.
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Todd Asset Management LLC lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 50.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,257 shares of the financial services provider's stock after buying an additional 151,848 shares during the quarter. Apollo Global Management makes up approximately 1.5% of Todd Asset Management LLC's portfolio, making the stock its 10th biggest holding. Todd Asset Management LLC owned approximately 0.08% of Apollo Global Management worth $61,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Independent Advisor Alliance raised its stake in Apollo Global Management by 4.0% in the first quarter. Independent Advisor Alliance now owns 3,574 shares of the financial services provider's stock valued at $489,000 after purchasing an additional 136 shares in the last quarter. Staley Capital Advisers Inc. purchased a new stake in Apollo Global Management in the first quarter valued at approximately $863,000. Nuveen LLC purchased a new stake in Apollo Global Management in the first quarter valued at approximately $342,335,000. MSA Advisors LLC raised its stake in Apollo Global Management by 12.4% in the first quarter. MSA Advisors LLC now owns 930,702 shares of the financial services provider's stock valued at $127,450,000 after purchasing an additional 102,730 shares in the last quarter. Finally, True North Advisors LLC purchased a new stake in Apollo Global Management in the first quarter valued at approximately $2,097,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on APO. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Barclays raised their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lowered their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $161.26.

Get Our Latest Report on APO

Insiders Place Their Bets

In related news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider owned 83,192 shares in the company, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 1.8%

Shares of Apollo Global Management stock traded up $2.51 on Tuesday, hitting $144.63. The stock had a trading volume of 2,913,189 shares, compared to its average volume of 3,064,792. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The stock has a market cap of $82.66 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.48 and a beta of 1.62. The stock's 50-day simple moving average is $142.32 and its two-hundred day simple moving average is $141.02.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business earned $1.64 earnings per share. As a group, sell-side analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a $0.51 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.4%. Apollo Global Management's payout ratio is 38.13%.

About Apollo Global Management

(Free Report)

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.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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