Banco BTG Pactual S.A. Invests $2.88 Million in Apollo Global Management Inc. $APO

Key Points

• Banco BTG Pactual S.A. acquired a new stake in Apollo Global Management, purchasing 21,000 shares valued at approximately $2.88 million in the first quarter.
• Apollo Global Management reported a quarterly EPS of $1.92, exceeding analysts' estimates by $0.08, and had a revenue of $6.55 billion for the quarter.
• The company recently announced a dividend of $0.51 per share, resulting in an annualized dividend yield of 1.5%, with a payout ratio of 38.13%.

Banco BTG Pactual S.A. bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,000 shares of the financial services provider's stock, valued at approximately $2,876,000.

A number of other large investors have also recently made changes to their positions in APO. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at approximately $25,000. GW&K Investment Management LLC grew its holdings in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management during the first quarter worth $39,000. Finally, Meeder Asset Management Inc. boosted its holdings in Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 172 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on APO shares. UBS Group cut their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays boosted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler cut their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Evercore ISI upped their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $163.28.

Apollo Global Management Stock Performance

APO stock traded up $0.0650 during mid-day trading on Friday, reaching $134.0750. 3,419,831 shares of the stock traded hands, compared to its average volume of 3,279,031. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The business has a 50-day moving average of $142.91 and a two-hundred day moving average of $139.50. The firm has a market capitalization of $76.69 billion, a PE ratio of 25.06, a P/E/G ratio of 1.45 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's dividend payout ratio is 38.13%.

Insider Activity

In related news, 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 owned 332,399 shares of the company's stock, valued at $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $657,135.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

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.