Caisse de depot et placement du Quebec Takes $935,000 Position in Apollo Global Management Inc. $APO

Key Points

• Caisse de dépôt et placement du Québec acquired 7,905 Apollo Global Management shares worth approximately $935,000 in the second quarter. Institutional investors collectively own 77.06% of Apollo’s outstanding stock.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also fell short of expectations. Analysts nevertheless maintain a “Moderate Buy” consensus rating with an average price target of $152.77.
• Apollo declared a quarterly dividend of $0.5625 per share, equivalent to an annualized $2.25 payout and a 1.7% yield. Shares opened at $135.39, compared with a 52-week range of $99.56 to $153.29.

Caisse de depot et placement du Quebec acquired a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,905 shares of the financial services provider's stock, valued at approximately $935,000.

Several other institutional investors have also recently made changes to their positions in APO. Sunbelt Securities Inc. raised its stake in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 82 shares during the period. Glen Eagle Advisors LLC boosted its stake in Apollo Global Management by 33.3% in the 4th quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider's stock worth $56,000 after purchasing an additional 96 shares during the period. Kestra Investment Management LLC grew its holdings in Apollo Global Management by 2.1% during the 4th quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider's stock valued at $684,000 after buying an additional 99 shares in the last quarter. Ramirez Asset Management Inc. grew its holdings in Apollo Global Management by 25.0% during the 4th quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider's stock valued at $72,000 after buying an additional 100 shares in the last quarter. Finally, Prudential PLC raised its position in shares of Apollo Global Management by 1.6% during the fourth quarter. Prudential PLC now owns 6,502 shares of the financial services provider's stock valued at $941,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $135.39 on Monday. The company has a market cap of $79.95 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.22 and a beta of 1.51. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The stock's 50 day simple moving average is $126.22 and its two-hundred day simple moving average is $122.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

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

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.5625 per share. The ex-dividend date of this dividend 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 presently 82.42%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APO. BMO Capital Markets lowered their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating on the stock in a report on Monday, July 13th. Weiss Ratings raised shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Piper Sandler reduced their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. TD Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $152.77.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source