Factory Mutual Insurance Co. Buys 25,150 Shares of Apollo Global Management Inc. $APO

Key Points

• Factory Mutual Insurance increased its Apollo stake by 14.5%, buying 25,150 shares in the third quarter and bringing its holdings to 198,350 shares, valued at about $23 million.
• Apollo shares were reported down 4.8%; the company’s latest results missed consensus, with earnings of $2.11 per share and revenue of $5.57 billion versus estimates of $2.16 and $5.65 billion.
• Apollo declared a quarterly dividend of $0.5625 per share, equal to $2.25 annually and a 2.0% yield at the cited share price.

Factory Mutual Insurance Co. increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,350 shares of the financial services provider's stock after acquiring an additional 25,150 shares during the period. Factory Mutual Insurance Co.'s holdings in Apollo Global Management were worth $23,021,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Continuum Advisory LLC acquired a new position in Apollo Global Management in the 2nd quarter worth $30,000. Keating Financial Advisory Services Inc. bought a new position in Apollo Global Management during the 2nd quarter worth about $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at about $38,000. MADDEN SECURITIES Corp acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at about $55,000. Finally, Pinnacle Holdings LLC acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at about $58,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 4.8%

Shares of Apollo Global Management stock opened at $113.76 on Wednesday. The stock has a market cap of $67.18 billion, a P/E ratio of 41.67, a P/E/G ratio of 1.10 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The business's 50 day moving average is $121.66 and its 200-day moving average is $123.30.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.92 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Apollo Global Management's dividend payout ratio is 82.42%.

Trending Headlines about Apollo Global Management

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo launched the European Credit Company, a private-credit platform with more than €10 billion in initial lending capacity. It broadens Apollo’s reach across corporate, asset-backed, infrastructure and real-estate lending. Apollo Announces the Launch of European Credit Company
• Positive Sentiment: Loan originations reportedly reached a record $114 billion, while assets under management climbed to $1.07 trillion, highlighting demand for alternative financing and Apollo’s scale. Apollo’s originations rise to a record $114 billion
• Positive Sentiment: Fee-related earnings reportedly exceeded expectations, offering a bright spot amid the broader earnings disappointment. Apollo Global Q3 earnings disappoint, but fee-related earnings surprise to the upside
• Positive Sentiment: Apollo declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo Global Management dividend announcement
• Neutral Sentiment: The firm plans to spend $350 million on a software overhaul for private-credit trading. The investment may support operations over time, but adds near-term spending. Apollo to Spend $350 Million on Software Overhaul
• Negative Sentiment: Q3 earnings missed analyst expectations, and Apollo swung to a $1.06 billion net loss attributable to common stockholders from net income a year earlier, largely due to investment-related losses. Reports also cited rising expenses. The shortfall is the clearest near-term headwind for APO shares. Apollo Global Swings to a Loss on Investment-Related Losses

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on APO shares. Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. Weiss Ratings upgraded Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. UBS Group dropped their target price on Apollo Global Management from $172.00 to $163.00 and set a "buy" rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley cut their target price on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 21st. Finally, Rothschild & Co Redburn boosted their target price on Apollo Global Management from $171.00 to $173.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.40.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.30% of the company's stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.