Global Retirement Partners LLC Buys Shares of 12,053 Apollo Global Management Inc. $APO

Key Points

• Institutional interest increased: Global Retirement Partners bought 12,053 Apollo Global Management shares valued at approximately $1.43 million. Overall, hedge funds and other institutional investors own 77.06% of APO.
• Quarterly results fell slightly short of expectations: Apollo reported $2.11 in quarterly EPS versus the $2.16 consensus estimate and revenue of $5.57 billion against expectations of $5.65 billion. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $152.77.
• Apollo declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually and a 1.7% yield. Meanwhile, insiders John Zito and CFO Martin Kelly sold shares, though insiders still own 8.30% of the company.

Global Retirement Partners LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,053 shares of the financial services provider's stock, valued at approximately $1,426,000.

A number of other hedge funds have also made changes to their positions in APO. Bank of New York Mellon Corp acquired a new position in Apollo Global Management in the 2nd quarter valued at approximately $336,644,000. S&CO Inc. purchased a new stake in Apollo Global Management in the 2nd quarter worth approximately $7,439,000. GSA Capital Partners LLP acquired a new stake in shares of Apollo Global Management during the 2nd quarter valued at $2,109,000. Northside Capital Management LLC boosted its stake in shares of Apollo Global Management by 0.3% during the 2nd quarter. Northside Capital Management LLC now owns 61,783 shares of the financial services provider's stock valued at $7,310,000 after buying an additional 185 shares during the period. Finally, Tema ETFs LLC grew its holdings in shares of Apollo Global Management by 5.4% during the 2nd quarter. Tema ETFs LLC now owns 9,699 shares of the financial services provider's stock valued at $1,147,000 after acquiring an additional 494 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by insiders.

Apollo Global Management Price Performance

NYSE APO opened at $134.91 on Tuesday. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The stock's 50-day moving average is $126.67 and its two-hundred day moving average is $122.71. The firm has a market cap of $79.67 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the company posted $1.92 EPS. On average, analysts anticipate that Apollo Global Management Inc. will post 8.12 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is 82.42%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Royal Bank Of Canada upped their target price on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. HSBC began coverage on Apollo Global Management in a report on Monday, July 20th. They set a "buy" rating and a $145.00 price target for the company. UBS Group boosted their price target on Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Barclays increased their price objective on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $152.77.

Apollo Global Management Company 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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