Handelsbanken Fonder AB Acquires 28,380 Shares of Apollo Global Management Inc. $APO

Key Points

• Handelsbanken Fonder AB boosted its Apollo Global Management stake by 20.6% in the fourth quarter, buying 28,380 more shares and bringing its total holding to 166,089 shares valued at about $24.0 million.
• Institutional ownership in Apollo remains high, with several other funds also adding positions and 77.06% of the company’s stock now held by institutions.
• Apollo reported Q1 earnings of $1.94 per share, topping estimates, and raised its quarterly dividend to $0.5625 per share from $0.51; analysts currently rate the stock a “Moderate Buy” with an average target price of $150.38.

Handelsbanken Fonder AB increased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,089 shares of the financial services provider's stock after purchasing an additional 28,380 shares during the quarter. Handelsbanken Fonder AB's holdings in Apollo Global Management were worth $24,043,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of APO. Atlantic Union Bankshares Corp grew its stake in shares of Apollo Global Management by 99.0% in the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth $29,000. Physician Wealth Advisors Inc. grew its stake 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 worth $38,000 after purchasing an additional 96 shares during the last quarter. City Holding Co. grew its stake in shares of Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock worth $44,000 after purchasing an additional 243 shares during the last quarter. Finally, Center for Financial Planning Inc. bought a new stake in shares of Apollo Global Management in the third quarter worth $50,000. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

APO has been the topic of a number of research analyst reports. Barclays upped their price target on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Argus raised shares of Apollo Global Management to a "strong-buy" rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Finally, BMO Capital Markets cut their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $150.38.

Apollo Global Management Price Performance

APO stock opened at $132.31 on Thursday. The stock has a market capitalization of $76.28 billion, a PE ratio of 84.28, a price-to-earnings-growth ratio of 1.10 and a beta of 1.52. The company's 50-day moving average is $117.91 and its 200-day moving average is $127.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business's revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Equities research analysts expect that Apollo Global Management Inc. will post 8.32 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.5625 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management's payout ratio is currently 143.31%.

Apollo Global Management 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.

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.