Geode Capital Management LLC Acquires 200,312 Shares of Apollo Global Management Inc. $APO

Key Points

• Geode Capital Management increased its Apollo Global Management stake by 2.0% in the fourth quarter, adding 200,312 shares and bringing its total holding to about 10.2 million shares valued at roughly $1.47 billion.
• Apollo reported better-than-expected EPS of $1.94 for the latest quarter, though revenue of $5.06 billion came in below Wall Street estimates and was down 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $151.23.

Geode Capital Management LLC boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,198,837 shares of the financial services provider's stock after acquiring an additional 200,312 shares during the period. Geode Capital Management LLC owned approximately 1.76% of Apollo Global Management worth $1,469,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Plato Investment Management Ltd raised its stake in shares of Apollo Global Management by 100.3% in the 3rd quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider's stock valued at $1,440,000 after purchasing an additional 5,452 shares during the period. NEOS Investment Management LLC raised its stake in shares of Apollo Global Management by 48.7% in the 3rd quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider's stock valued at $6,997,000 after purchasing an additional 17,204 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Apollo Global Management by 11.0% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider's stock valued at $120,017,000 after purchasing an additional 89,439 shares during the period. Cornerstone Investment Partners LLC increased its position in shares of Apollo Global Management by 23.6% in the third quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider's stock valued at $84,029,000 after acquiring an additional 120,558 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Apollo Global Management by 4.0% in the third quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider's stock valued at $167,562,000 after acquiring an additional 48,400 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction dated 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 owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company's stock.

Apollo Global Management Price Performance

NYSE:APO opened at $127.55 on Friday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $157.28. 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 $73.54 billion, a P/E ratio of 81.24, a P/E/G ratio of 1.12 and a beta of 1.52. The stock's 50-day simple moving average is $120.79 and its 200 day simple moving average is $127.92.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping 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 business had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter last year, the company posted $1.82 earnings per share. Apollo Global Management's quarterly revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be issued a dividend of $0.5625 per share. The ex-dividend date is 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 dividend payout ratio is 143.31%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on 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. Barclays lifted their target price on Apollo Global Management from $125.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Royal Bank Of Canada lifted their target price on Apollo Global Management from $139.00 to $146.00 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Finally, UBS Group lifted their target price on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $151.23.

Trending Headlines about Apollo Global Management

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

• Positive Sentiment: Apollo is expanding its private-equity activity by backing Apex Service Partners, a home-services platform, in a deal that values the company around $10 billion. That kind of large investment activity can support fee-generating growth for Apollo. Apex Service sells minority stake to Apollo at $10 bln valuation, source says
• Positive Sentiment: Apollo also appears to be pursuing a major financing role tied to Anthropic’s AI infrastructure needs, with reports that it is shopping a large debt package to help fund AI chip purchases. That suggests Apollo may capture another sizable origination fee opportunity. Apollo Shops $36 Billion Debt to Buy AI Chips for Anthropic (1)
• Neutral Sentiment: Management’s presentation at Bernstein’s strategic decisions conference is drawing attention, but the transcript itself does not appear to contain a clear new catalyst yet. Apollo Global Management, Inc. (APO) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: An insider sale by John P. Zito was disclosed, but the executive still retains a very large position, so the transaction may be read as routine rather than a major red flag. SEC Form 4 filing
• Negative Sentiment: Apollo’s president said wealthy investors are still trying to withdraw money from some U.S. private credit funds, pointing to ongoing outflows that could weigh on sentiment around the firm’s private credit business. Apollo's president sees continued withdrawals from US private credit funds for the wealthy

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.

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.