Flputnam Investment Management Co. Acquires New Stake in Apollo Global Management Inc. $APO

Key Points

• Flputnam Investment Management acquired 154,939 Apollo Global Management shares worth approximately $18.3 million in the second quarter. Hedge funds and institutional investors collectively own 77.06% of APO’s outstanding stock.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $152.77, despite mixed target-price revisions.
• Apollo reported quarterly earnings of $2.11 per share, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company declared a quarterly dividend of $0.5625, equivalent to a 1.6% annual yield.

Flputnam Investment Management Co. bought a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 154,939 shares of the financial services provider's stock, valued at approximately $18,331,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the fourth quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management in the first quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 213 shares during the period. Osbon Capital Management LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 96 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on APO. Morgan Stanley reduced their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Apollo Global Management from a "sell" rating to a "strong sell" rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. Barclays increased their price objective 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. Finally, BMO Capital Markets decreased their target price on Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.77.

Apollo Global Management Stock Performance

Shares of APO stock opened at $140.69 on Monday. The company has a market cap of $83.08 billion, a P/E ratio of 51.54, a PEG ratio of 1.26 and a beta of 1.51. The firm has a fifty day moving average price of $126.53 and a 200 day moving average price of $122.69. The company has a current ratio of 1.70, a quick 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.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share 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 in the prior year, the business earned $1.92 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 8.12 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's dividend payout ratio is 82.42%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred 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 in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by company insiders.

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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