Elevation Point Wealth Partners LLC Invests $1.22 Million in Apollo Global Management Inc. $APO

Key Points

• Elevation Point Wealth Partners initiated a $1.22 million position in Apollo Global Management during the second quarter, while institutional investors overall own 77.06% of the company.
• Analyst sentiment remains positive but mixed: Apollo has a “Moderate Buy” consensus rating and an average price target of $152.77, despite recent target reductions from some firms.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, and revenue of $5.57 billion versus expectations of $5.65 billion. The company also declared a $0.5625 quarterly dividend, equal to a 1.7% annualized yield.

Elevation Point Wealth Partners LLC bought a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,315 shares of the financial services provider's stock, valued at approximately $1,220,000.

A number of other large investors also recently bought and sold shares of APO. Vanguard Group Inc. increased its holdings 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Apollo Global Management by 2.0% during 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 buying an additional 62,831 shares during the period. Legal & General Group Plc increased its holdings in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock valued at $522,850,000 after buying an additional 155,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Apollo Global Management by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock valued at $475,985,000 after buying an additional 98,945 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the company'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 value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APO shares. 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 research note on Monday, July 13th. Barclays lifted their price target on Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price target on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Finally, Piper Sandler reduced their target price on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $152.77.

Apollo Global Management Trading Down 0.0%

Shares of APO stock opened at $132.63 on Monday. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock's fifty day moving average is $126.64 and its two-hundred day moving average is $122.68. The firm has a market capitalization of $78.32 billion, a P/E ratio of 48.58, a PEG ratio of 1.20 and a beta of 1.51.

Apollo Global Management (NYSE:APO - Get Free Report) last issued 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). The business had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.92 earnings per share. Research analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

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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