Axxcess Wealth Management LLC Raises Position in Apollo Global Management Inc. $APO

Key Points

• Axxcess Wealth Management nearly doubled its Apollo Global Management stake in the fourth quarter, increasing holdings by 98.3% to 36,804 shares valued at about $5.33 million.
• Several other institutional investors also raised or initiated positions, and hedge funds and institutions now own 77.06% of Apollo’s stock.
• Apollo reported Q1 EPS of $1.94, topping estimates, and it also raised its quarterly dividend to $0.5625 per share; meanwhile, analysts keep a Moderate Buy consensus with an average target price of $150.38.

Axxcess Wealth Management LLC lifted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 98.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,804 shares of the financial services provider's stock after buying an additional 18,247 shares during the period. Axxcess Wealth Management LLC's holdings in Apollo Global Management were worth $5,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Union Bankshares Corp boosted its position in shares of Apollo Global Management by 99.0% in the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock worth $27,000 after buying an additional 99 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $29,000. Physician Wealth Advisors Inc. boosted its position in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after buying an additional 96 shares during the period. City Holding Co. boosted its position in shares of Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock worth $44,000 after buying an additional 243 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider's stock worth $53,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

APO has been the subject of several analyst reports. Piper Sandler decreased their target price on Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets cut their price target on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 24th. TD Cowen cut their price target on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. cut their price target on Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 10th. Finally, Royal Bank Of Canada boosted their price target on Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $150.38.

Apollo Global Management Trading Down 1.8%

NYSE:APO opened at $128.50 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28. The business's 50-day simple moving average is $118.81 and its 200 day simple moving average is $127.96. The stock has a market cap of $74.08 billion, a price-to-earnings ratio of 81.85, a price-to-earnings-growth ratio of 1.08 and a beta of 1.52.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. Apollo Global Management's revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Apollo Global Management Inc. will post 8.29 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. The ex-dividend date is Tuesday, May 19th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.8%. Apollo Global Management's payout ratio is currently 143.31%.

About Apollo Global Management

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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