Tredje AP fonden Increases Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Tredje AP fonden significantly increased its shares in Apollo Global Management by 200% during the first quarter, now owning 60,000 shares valued at approximately $8.2 million.
• Apollo Global Management posted a quarterly earnings result of $1.82 per share, missing analysts' expectations by $0.02, with revenues of $5.55 billion, down 21.2% from the previous year.
• The company declared a quarterly dividend of $0.51 per share, increasing its dividend from the previous $0.46, marking a 1.40% yield at an annualized rate of $2.04.

Tredje AP fonden grew its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 200.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the financial services provider's stock after purchasing an additional 40,000 shares during the period. Tredje AP fonden's holdings in Apollo Global Management were worth $8,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vestcor Inc increased its holdings in Apollo Global Management by 171.8% during the 1st quarter. Vestcor Inc now owns 19,642 shares of the financial services provider's stock worth $2,690,000 after purchasing an additional 12,416 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its position in Apollo Global Management by 3.3% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 80 shares during the period. XTX Topco Ltd boosted its position in Apollo Global Management by 106.1% during the 1st quarter. XTX Topco Ltd now owns 31,085 shares of the financial services provider's stock worth $4,257,000 after acquiring an additional 16,006 shares during the period. Banque Cantonale Vaudoise acquired a new position in Apollo Global Management during the 1st quarter worth $600,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Apollo Global Management by 113.6% in the first quarter. GSA Capital Partners LLP now owns 4,231 shares of the financial services provider's stock valued at $579,000 after buying an additional 2,250 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley cut 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. Bank of America upped their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Citigroup upped their price target 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. Piper Sandler dropped their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Raymond James Financial initiated coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $161.00.

Apollo Global Management Stock Performance

NYSE:APO traded down $7.02 during trading on Friday, reaching $138.30. The company's stock had a trading volume of 4,587,463 shares, compared to its average volume of 2,360,023. The firm has a market cap of $79.04 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.64 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a 50 day moving average of $140.63 and a 200-day moving average of $142.39. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter in the previous year, the business earned $1.72 EPS. The company's revenue for the quarter was down 21.2% on a year-over-year basis. Research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares of the company's stock, valued at $49,470,351.48. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is currently owned by insiders.

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.