Fjarde AP Fonden Fourth Swedish National Pension Fund Has $15.76 Million Stock Position in Apollo Global Management Inc. $APO

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its Apollo Global Management stake by 74.3% in the first quarter, buying 60,300 additional shares and bringing its position to 141,465 shares worth about $15.76 million.
• Insider selling was also reported: Apollo insider John P. Zito sold 48,644 shares for roughly $6.36 million, trimming his direct ownership by 1.56%.
• Apollo recently raised its quarterly dividend to $0.5625 per share from $0.51, while analysts currently rate the stock a Moderate Buy with a consensus price target of $151.23.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 74.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,465 shares of the financial services provider's stock after acquiring an additional 60,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Apollo Global Management were worth $15,762,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Chesapeake Asset Management LLC boosted its stake in shares of Apollo Global Management by 3.6% in the fourth quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider's stock worth $299,000 after acquiring an additional 72 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Apollo Global Management by 0.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider's stock worth $1,383,000 after purchasing an additional 80 shares during the period. Sunbelt Securities Inc. lifted its holdings in Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 82 shares during the last quarter. United Advisor Group LLC raised its holdings in Apollo Global Management by 4.7% in the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock valued at $282,000 after buying an additional 87 shares during the period. Finally, Broadway Wealth Solutions Inc. grew its position in Apollo Global Management by 3.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider's stock valued at $346,000 after acquiring an additional 87 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.30% of the company's stock.

Apollo Global Management Trading Up 0.1%

Shares of NYSE APO opened at $118.71 on Friday. The stock's 50 day moving average price is $128.79 and its two-hundred day moving average price is $126.95. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $157.28. The stock has a market capitalization of $68.44 billion, a P/E ratio of 75.61, a PEG ratio of 1.02 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the business posted $1.82 earnings per share. The firm's quarterly revenue was down 8.8% compared to the same quarter last year. On average, analysts anticipate that Apollo Global Management Inc. will post 8.26 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is currently 143.31%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. The Goldman Sachs Group dropped their price objective on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Piper Sandler lifted their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. BMO Capital Markets dropped their target price on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating for the company in a report on Tuesday, March 24th. Finally, Morgan Stanley cut their price target on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.23.

About Apollo Global Management

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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