Bank of New York Mellon Corp Takes $336.64 Million Position in Apollo Global Management Inc. $APO

Bank of New York Mellon Corp bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,845,435 shares of the financial services provider's stock, valued at approximately $336,644,000. Bank of New York Mellon Corp owned 0.49% of Apollo Global Management at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the 4th quarter valued at about $29,000. MBM Wealth Consultants LLC bought a new position in shares of Apollo Global Management during the first quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. boosted its position in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock worth $29,000 after buying an additional 213 shares during the period. Osbon Capital Management LLC bought a new position in Apollo Global Management during the 4th quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. boosted its holdings 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. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Buying and Selling

In other news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The SEC filing for this sale provides additional information. 8.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APO. Weiss Ratings reissued a "hold (c-)" rating on shares of Apollo Global Management in a research report on Friday, August 7th. UBS Group increased their price objective on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Piper Sandler dropped their price target on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Monday, July 13th. BMO Capital Markets cut their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a report on Monday, July 13th. Finally, Royal Bank Of Canada lifted their price target on Apollo Global Management from $137.00 to $146.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.77.

Apollo Global Management Trading Up 2.0%

APO opened at $132.63 on Friday. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. The business has a 50 day simple moving average of $126.64 and a two-hundred day simple moving average of $122.75. The firm has a market capitalization of $78.32 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 1.17 and a beta of 1.51.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the previous year, the firm posted $1.92 EPS. Analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management's dividend payout ratio is 82.42%.

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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