Mediolanum International Funds Ltd Has $17.94 Million Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Mediolanum International Funds Ltd increased its stake in Apollo Global Management by 1.9%, acquiring an additional 2,500 shares, bringing its total holdings to 130,961 shares valued at approximately $17.9 million.
• Apollo Global Management has recently received multiple upgrades from analysts, with Barclays and Citigroup raising their target prices to $168.00 and $170.00, respectively, indicating a strong positive sentiment towards the stock.
• The company recently declared a quarterly dividend of $0.51 per share, up from $0.46, resulting in an annualized dividend payout of $2.04 and a dividend yield of 1.35%.

Mediolanum International Funds Ltd boosted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,961 shares of the financial services provider's stock after buying an additional 2,500 shares during the period. Mediolanum International Funds Ltd's holdings in Apollo Global Management were worth $17,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Phoenix Financial Ltd. bought a new position in Apollo Global Management in the 1st quarter valued at about $4,029,000. AM Investment Strategies LLC grew its position in Apollo Global Management by 11.2% in the 1st quarter. AM Investment Strategies LLC now owns 62,976 shares of the financial services provider's stock valued at $8,624,000 after buying an additional 6,338 shares in the last quarter. Westover Capital Advisors LLC grew its position in Apollo Global Management by 54.7% in the 1st quarter. Westover Capital Advisors LLC now owns 14,783 shares of the financial services provider's stock valued at $2,024,000 after buying an additional 5,226 shares in the last quarter. Cetera Investment Advisers grew its position in Apollo Global Management by 14.3% in the 1st quarter. Cetera Investment Advisers now owns 73,818 shares of the financial services provider's stock valued at $10,109,000 after buying an additional 9,209 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Apollo Global Management by 23.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 12,462 shares of the financial services provider's stock valued at $1,707,000 after buying an additional 2,397 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Activity

In other 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 sale, the chief financial officer owned 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company's stock.

Apollo Global Management Stock Down 0.5%

APO traded down $0.68 during midday trading on Wednesday, hitting $147.14. 645,015 shares of the company's stock traded hands, compared to its average volume of 3,604,165. The company has a market cap of $84.09 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. The stock's fifty day simple moving average is $139.90 and its 200-day simple moving average is $142.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49.

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

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.51 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.39%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Raymond James Financial began coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective for the company. Barclays upped their price objective 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. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Finally, Piper Sandler reduced their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $161.00.

Apollo Global Management 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.