Bain Capital Public Equity Management II LLC Makes New Investment in Apollo Global Management Inc. $APO

Key Points

• Bain Capital Public Equity Management II LLC invested approximately $21.35 million in Apollo Global Management, acquiring 155,870 shares, which now accounts for about 1.7% of its portfolio.
• Wall Street analysts have raised their price targets for Apollo Global Management, with estimates ranging from $160.00 to $173.00, reflecting a positive outlook on the stock.
• Apollo Global Management reported a net income of $1.92 EPS for the last quarter, exceeding analysts' expectations and demonstrating a year-over-year increase from $1.64 EPS.

Bain Capital Public Equity Management II LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 155,870 shares of the financial services provider's stock, valued at approximately $21,345,000. Apollo Global Management makes up 1.7% of Bain Capital Public Equity Management II LLC's portfolio, making the stock its 13th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in APO. Boston Partners acquired a new position in Apollo Global Management in the first quarter valued at $370,543,000. Nuveen LLC acquired a new position in Apollo Global Management in the first quarter valued at $342,335,000. Nuveen Asset Management LLC increased its stake in 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 valued at $429,405,000 after purchasing an additional 1,082,825 shares during the last quarter. Vanguard Group Inc. increased its stake in Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock valued at $490,482,000 after purchasing an additional 706,181 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 2.4%

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

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results 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 return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

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

Insider Transactions at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays upped their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup upped their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Evercore ISI upped their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.56.

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.