Argent Trust Co Acquires 3,615 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• Argent Trust Co increased its holdings in Apollo Global Management Inc. by 41.9% in Q1, acquiring an additional 3,615 shares, bringing its total to 12,233 shares valued at approximately $1.675 million.
• Apollo's quarterly earnings results showed an EPS of $1.82, missing estimates, and revenue declined by 21.2% year-over-year to $5.55 billion.
• Several large investors boosted their stakes in Apollo, with 77.06% of the company's stock owned by institutional investors, indicating strong institutional interest.

Argent Trust Co raised its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 41.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,233 shares of the financial services provider's stock after acquiring an additional 3,615 shares during the quarter. Argent Trust Co's holdings in Apollo Global Management were worth $1,675,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after purchasing an additional 1,739,807 shares in the last quarter. Northern Trust Corp raised its holdings in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after buying an additional 1,460,689 shares in the last quarter. Allen Investment Management LLC raised its holdings in Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock valued at $361,664,000 after buying an additional 333,428 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Apollo Global Management by 71.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock worth $429,405,000 after buying an additional 1,082,825 shares during the last quarter. Finally, Curated Wealth Partners LLC boosted its stake in shares of Apollo Global Management by 0.3% during the 1st quarter. Curated Wealth Partners LLC now owns 2,229,366 shares of the financial services provider's stock worth $305,289,000 after acquiring an additional 6,623 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 4.8%

Shares of APO stock opened at $138.30 on Monday. The firm has a fifty day moving average of $140.63 and a 200-day moving average of $142.07. The stock has a market cap of $79.04 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.56 and a beta of 1.62. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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). The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business's revenue for the quarter was down 21.2% on a year-over-year basis. During the same period last year, the company earned $1.72 EPS. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer owned 373,164 shares in the company, valued at $49,470,351.48. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler reduced 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 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 note on Monday, April 14th. TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Barclays upped their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Raymond James Financial started coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective on the stock. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus target price of $161.00.

About Apollo Global Management

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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