Apollo Global Management Inc. $APO Shares Acquired by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in Apollo Global Management by 18.4%, acquiring an additional 41,688 shares, which brought its total holdings to 268,844 shares valued at approximately $36.8 million.
• Several other institutional investors, including Principal Financial Group and Clearview Wealth Advisors, have also adjusted their holdings in Apollo, indicating strong institutional interest, with 77.06% of the company owned by institutional investors.
• Apollo Global Management reported better-than-expected quarterly earnings of $1.92 EPS, surpassing analysts' estimates, and also announced a quarterly dividend of $0.51 per share, to be paid on August 29th.

Credit Agricole S A increased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 18.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,844 shares of the financial services provider's stock after buying an additional 41,688 shares during the period. Credit Agricole S A's holdings in Apollo Global Management were worth $36,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of APO. Canada Pension Plan Investment Board raised its stake in Apollo Global Management by 1,405.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,817 shares of the financial services provider's stock worth $5,255,000 after buying an additional 29,704 shares in the last quarter. GeoWealth Management LLC grew its holdings in Apollo Global Management by 176.7% in the fourth quarter. GeoWealth Management LLC now owns 1,743 shares of the financial services provider's stock worth $288,000 after purchasing an additional 1,113 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Apollo Global Management by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,342,857 shares of the financial services provider's stock worth $221,800,000 after purchasing an additional 198,656 shares during the last quarter. MML Investors Services LLC grew its holdings in Apollo Global Management by 27.6% in the fourth quarter. MML Investors Services LLC now owns 18,668 shares of the financial services provider's stock worth $3,083,000 after purchasing an additional 4,039 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in Apollo Global Management by 49.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 14,214 shares of the financial services provider's stock worth $2,349,000 after purchasing an additional 4,702 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction on 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 sale, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of APO traded up $0.0650 during trading hours on Friday, reaching $134.0750. 3,419,831 shares of the company traded hands, compared to its average volume of 3,279,031. The stock has a market capitalization of $76.69 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.45 and a beta of 1.62. 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 12-month low of $102.58 and a 12-month high of $189.49. The business has a fifty day moving average price of $142.91 and a 200-day moving average price of $139.50.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $1.64 earnings per share. Equities analysts anticipate 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. Shareholders of record on Monday, August 18th will be issued 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 presently 38.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Evercore ISI lifted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. UBS Group cut their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $163.28.

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.