Bain Capital Public Equity LP Acquires Shares of 28,000 Apollo Global Management Inc. $APO

Key Points

• Bain Capital Public Equity LP acquired 28,000 shares of Apollo Global Management, valued at approximately $3.83 million, representing 4.2% of its investment portfolio and making it the firm's 11th largest holding.
• Key institutional investors such as Boston Partners and Nuveen LLC have also increased their stakes in Apollo Global Management, reflecting strong institutional interest in the company.
• Following recent analysis, various analysts have upgraded their target prices for Apollo Global Management, with a consensus rating of "Moderate Buy" and an average target price of $164.56.

Bain Capital Public Equity LP bought a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 28,000 shares of the financial services provider's stock, valued at approximately $3,834,000. Apollo Global Management accounts for about 4.2% of Bain Capital Public Equity LP's holdings, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APO. AQR Capital Management LLC grew its position in shares of Apollo Global Management by 20.7% in the 4th quarter. AQR Capital Management LLC now owns 42,708 shares of the financial services provider's stock worth $7,054,000 after buying an additional 7,318 shares during the period. AXA S.A. grew its position in Apollo Global Management by 252.1% during the 4th quarter. AXA S.A. now owns 38,981 shares of the financial services provider's stock valued at $6,438,000 after purchasing an additional 27,910 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Apollo Global Management by 7.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 2,147 shares of the financial services provider's stock valued at $355,000 after purchasing an additional 145 shares during the last quarter. Benjamin Edwards Inc. grew its position in Apollo Global Management by 2.5% during the 4th quarter. Benjamin Edwards Inc. now owns 20,702 shares of the financial services provider's stock valued at $3,419,000 after purchasing an additional 506 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Apollo Global Management by 29.4% during the 4th quarter. Baird Financial Group Inc. now owns 5,452 shares of the financial services provider's stock valued at $900,000 after purchasing an additional 1,238 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded down $3.25 during trading on Friday, hitting $131.51. The company's stock had a trading volume of 4,520,545 shares, compared to its average volume of 3,101,840. The company has a 50-day moving average of $142.65 and a 200-day moving average of $137.49. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $75.23 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.42 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $1.01 billion. During the same quarter in the prior year, the business earned $1.64 EPS. On average, sell-side analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio is currently 38.13%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the 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 completion of the sale, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APO shares. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company upped their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Barclays upped their target price 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. Evercore ISI upped their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Citigroup upped their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

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.