Deutsche Bank AG Boosts Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Deutsche Bank AG increased its stake in Apollo Global Management by 5.9%, owning approximately 1.26 million shares valued at about $172.99 million.
• Analysts have raised their price targets for Apollo Global Management, with Citigroup setting a new target of $170.00 and Barclays at $168.00, reflecting a strong market interest.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, which represents an annualized yield of 1.4%.

Deutsche Bank AG raised its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,263,238 shares of the financial services provider's stock after acquiring an additional 70,670 shares during the quarter. Deutsche Bank AG owned approximately 0.22% of Apollo Global Management worth $172,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APO. Bank of Nova Scotia boosted its stake in Apollo Global Management by 192.4% during the 4th quarter. Bank of Nova Scotia now owns 56,452 shares of the financial services provider's stock worth $9,324,000 after purchasing an additional 37,148 shares during the last quarter. Scotia Capital Inc. boosted its stake in Apollo Global Management by 26.2% during the 4th quarter. Scotia Capital Inc. now owns 3,516 shares of the financial services provider's stock worth $581,000 after purchasing an additional 729 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Apollo Global Management by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 229,505 shares of the financial services provider's stock worth $37,905,000 after purchasing an additional 1,440 shares during the last quarter. Optimize Financial Inc acquired a new stake in Apollo Global Management during the 4th quarter worth $511,000. Finally, Sagespring Wealth Partners LLC acquired a new stake in Apollo Global Management during the 4th quarter worth $342,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Up 1.8%

Shares of NYSE APO traded up $2.51 during mid-day trading on Tuesday, hitting $144.63. The company had a trading volume of 2,913,176 shares, compared to its average volume of 3,622,797. The company has a market capitalization of $82.66 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The business's 50-day simple moving average is $142.05 and its 200 day simple moving average is $141.00.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. On average, analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on APO shares. Barclays lifted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lowered their price target on shares of 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. Evercore ISI boosted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Wells Fargo & Company increased their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and an average target price of $161.26.

Insider Buying and Selling at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.