EverSource Wealth Advisors LLC Grows Stock Position in Apollo Global Management Inc. $APO

Key Points

• EverSource Wealth Advisors increased its Apollo Global Management stake by 33.5% in the fourth quarter, adding 67,261 shares to bring its total to 268,028 shares worth about $38.8 million.
• Apollo reported better-than-expected earnings of $1.94 per share for the quarter, though revenue of $5.06 billion came in below estimates and was down 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, while analysts currently hold a Moderate Buy consensus with an average price target of $150.38.

EverSource Wealth Advisors LLC grew its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,028 shares of the financial services provider's stock after buying an additional 67,261 shares during the period. Apollo Global Management comprises 1.4% of EverSource Wealth Advisors LLC's portfolio, making the stock its 10th largest position. EverSource Wealth Advisors LLC's holdings in Apollo Global Management were worth $38,800,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of APO. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider's stock worth $6,319,617,000 after buying an additional 1,377,545 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Apollo Global Management by 31.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider's stock worth $215,530,000 after buying an additional 383,198 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in Apollo Global Management by 62.0% during the 3rd quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider's stock worth $132,834,000 after buying an additional 381,479 shares during the last quarter. Northern Trust Corp lifted its holdings in Apollo Global Management by 7.3% during the 3rd quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider's stock worth $584,494,000 after buying an additional 299,698 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Apollo Global Management during the 4th quarter worth approximately $40,454,000. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Down 1.8%

Shares of Apollo Global Management stock opened at $128.50 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The business's 50 day simple moving average is $118.81 and its 200-day simple moving average is $127.96. The stock has a market capitalization of $74.08 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 1.10 and a beta of 1.52. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month 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. The business 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%.The business's quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. Equities research analysts forecast that Apollo Global Management Inc. will post 8.29 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's payout ratio is currently 143.31%.

Wall Street Analyst Weigh In

APO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Weiss Ratings downgraded Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Wall Street Zen downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Morgan Stanley dropped 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. Finally, Piper Sandler dropped their price target on Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $150.38.

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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