Empyrean Capital Partners LP Invests $36.57 Million in Apollo Global Management Inc. $APO

Key Points

• Empyrean Capital Partners initiated a $36.57 million position in Apollo Global Management, acquiring 328,200 shares and making APO its 24th-largest holding. Institutional investors collectively own 77.06% of the company.
• Analysts maintain a generally positive outlook, with APO carrying a “Moderate Buy” consensus rating and a $149.08 average price target, despite several recent target reductions.
• Apollo reported quarterly EPS of $1.94, exceeding estimates, while revenue fell 8.8% year over year. The company also increased its quarterly dividend to $0.5625 per share, equivalent to a 1.8% annualized yield.

Empyrean Capital Partners LP acquired a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 328,200 shares of the financial services provider's stock, valued at approximately $36,568,000. Apollo Global Management makes up 1.2% of Empyrean Capital Partners LP's portfolio, making the stock its 24th largest holding. Empyrean Capital Partners LP owned approximately 0.06% of Apollo Global Management as of its most recent SEC filing.

A number of other large investors have also modified their holdings of APO. Quantinno Capital Management LP grew its holdings in Apollo Global Management by 39.8% during the 1st quarter. Quantinno Capital Management LP now owns 176,412 shares of the financial services provider's stock valued at $19,656,000 after purchasing an additional 50,188 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in Apollo Global Management in the first quarter valued at $29,824,000. Gateway Wealth Partners LLC bought a new position in Apollo Global Management during the 1st quarter valued at $248,000. OMERS ADMINISTRATION Corp boosted its stake in Apollo Global Management by 24.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 37,876 shares of the financial services provider's stock valued at $4,220,000 after acquiring an additional 7,539 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA boosted its stake in Apollo Global Management by 16.8% during the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 12,492 shares of the financial services provider's stock valued at $1,392,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

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 transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Company insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on APO shares. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. The Goldman Sachs Group reduced their price target on shares of 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. Royal Bank Of Canada decreased their price target on Apollo Global Management from $146.00 to $137.00 and set a "sector perform" rating for the company in a research note on Monday, July 13th. TD Cowen lowered their price objective on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a report on Monday, May 18th. Finally, Weiss Ratings cut Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $149.08.

Apollo Global Management Trading Up 1.4%

Apollo Global Management stock opened at $124.32 on Tuesday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm's 50-day moving average is $125.98 and its 200-day moving average is $123.76. 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 company has a market cap of $71.68 billion, a P/E ratio of 79.19, a PEG ratio of 1.07 and a beta of 1.50.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 EPS. On average, equities analysts expect that Apollo Global Management Inc. will post 8.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. Apollo Global Management's 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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