Capricorn Fund Managers Ltd Grows Holdings in Apollo Global Management Inc. $APO

Key Points

• Capricorn Fund Managers Ltd increased its Apollo Global Management stake by 71.8% in the first quarter, buying 21,307 shares to bring its total holding to 51,000 shares worth about $5.68 million.
• Apollo reported Q1 earnings of $1.94 per share, beating analyst estimates, though revenue of $5.06 billion came in below expectations and was down 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, while Wall Street currently rates the stock Moderate Buy with a consensus target price of $151.23.

Capricorn Fund Managers Ltd grew its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 71.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,000 shares of the financial services provider's stock after buying an additional 21,307 shares during the quarter. Capricorn Fund Managers Ltd's holdings in Apollo Global Management were worth $5,682,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in APO. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock valued at $6,913,826,000 after purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC boosted its stake in Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock worth $1,469,793,000 after buying an additional 200,312 shares in the last quarter. Northern Trust Corp grew its position in Apollo Global Management by 1.4% during the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock valued at $643,982,000 after acquiring an additional 62,831 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after acquiring an additional 155,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after acquiring an additional 98,945 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $118.35 on Wednesday. The company has a market cap of $68.23 billion, a price-to-earnings ratio of 75.38, a price-to-earnings-growth ratio of 0.99 and a beta of 1.50. The company has a 50-day moving average price of $129.35 and a 200-day moving average price of $127.44. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management's quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's payout ratio is presently 143.31%.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent research reports. Piper Sandler increased their target price on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Royal Bank Of Canada boosted their price target on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. Evercore restated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Weiss Ratings cut Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Finally, BMO Capital Markets decreased their price objective on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.23.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.30% of the company's stock.

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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