Cinctive Capital Management LP Acquires Shares of 64,607 Apollo Global Management Inc. $APO

Key Points

• Cinctive Capital Management opened a new position in Apollo Global Management during the fourth quarter, buying 64,607 shares valued at about $9.35 million.
• Institutional ownership remains heavy, with major firms like Vanguard, Geode Capital, Northern Trust, Legal & General, and Charles Schwab all adding to their APO holdings; institutions now own 77.06% of the stock.
• Apollo reported better-than-expected quarterly earnings of $1.94 per share, and it recently raised its dividend to $0.5625 per share quarterly, though analysts remain mixed with a consensus rating of Moderate Buy.

Cinctive Capital Management LP acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 64,607 shares of the financial services provider's stock, valued at approximately $9,353,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Apollo Global Management by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock worth $6,913,826,000 after purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Apollo Global Management by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock worth $1,469,793,000 after purchasing an additional 200,312 shares during the last quarter. Northern Trust Corp boosted its position in shares of Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock worth $643,982,000 after purchasing an additional 62,831 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Apollo Global Management by 4.5% in the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after purchasing an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after purchasing an additional 98,945 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on APO shares. BMO Capital Markets reduced their price target on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 24th. TD Cowen reduced their price target on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Morgan Stanley reduced their price target on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. The Goldman Sachs Group reduced their price target on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada raised their price target on Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Price Performance

NYSE:APO opened at $138.72 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The stock's 50-day simple moving average is $126.88 and its 200 day simple moving average is $128.12. The company has a market cap of $79.98 billion, a P/E ratio of 88.36, a P/E/G ratio of 1.19 and a beta of 1.50. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $157.28.

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

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's dividend payout ratio is presently 143.31%.

Apollo Global Management 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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