Assenagon Asset Management S.A. Has $7.46 Million Position in Apollo Global Management Inc. $APO

Key Points

• Assenagon Asset Management increased its Apollo Global Management stake by 438.1% in the first quarter, ending with 66,923 shares worth about $7.46 million.
• Insider selling was notable, as John P. Zito sold 48,644 shares for roughly $6.36 million, trimming his position by 1.56%.
• Analysts remain generally positive on APO, with a consensus rating of Moderate Buy and an average price target of $151.23, while the company also raised its quarterly dividend to $0.5625 per share.

Assenagon Asset Management S.A. boosted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 438.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,923 shares of the financial services provider's stock after acquiring an additional 54,486 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Apollo Global Management were worth $7,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners grew its stake in shares of Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock valued at $474,384,000 after purchasing an additional 1,692,532 shares during the period. Focus Partners Wealth lifted its position in shares of Apollo Global Management by 2,560.3% during the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider's stock worth $203,324,000 after buying an additional 1,351,778 shares during the period. Corient Private Wealth LLC lifted its position in shares of Apollo Global Management by 271.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider's stock worth $148,255,000 after buying an additional 748,697 shares during the period. Temasek Holdings Private Ltd boosted its stake in Apollo Global Management by 879.2% in the 4th quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider's stock valued at $109,055,000 after buying an additional 676,411 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Apollo Global Management by 5,321.9% in the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider's stock valued at $79,845,000 after buying an additional 541,397 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Barclays boosted their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. BMO Capital Markets lowered their target price on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a report on Tuesday, March 24th. Evercore reiterated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, Piper Sandler lifted their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Trading Up 0.3%

APO stock opened at $118.66 on Monday. The business has a fifty day moving average price of $129.59 and a 200 day moving average price of $127.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The stock has a market capitalization of $68.41 billion, a price-to-earnings ratio of 75.58, a P/E/G ratio of 1.02 and a beta of 1.50.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business's revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 143.31%.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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