Highland Capital Management LLC Buys Shares of 35,450 Apollo Global Management Inc. $APO

Key Points

• Highland Capital bought a new position of 35,450 shares of Apollo Global Management in Q4, valued at about $5.13 million, and institutional investors now own roughly 77.06% of the company.
• Analysts give Apollo a consensus rating of "Moderate Buy" with a consensus target price of $149.42, although several brokerages have recently trimmed price targets while most maintain Buy/Strong Buy ratings.
• Apollo beat quarterly EPS estimates ($2.47 vs. $2.04) and announced a quarterly dividend of $0.51 (annualized $2.04), implying a ~1.6% yield.

Highland Capital Management LLC bought a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 35,450 shares of the financial services provider's stock, valued at approximately $5,132,000.

Several other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp grew its holdings in Apollo Global Management by 99.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock valued at $27,000 after buying an additional 99 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in Apollo Global Management by 1,123.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 208 shares of the financial services provider's stock valued at $28,000 after buying an additional 191 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at approximately $29,000. Physician Wealth Advisors Inc. grew its holdings in Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after buying an additional 96 shares during the last quarter. Finally, City Holding Co. raised its stake in Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on APO. Argus raised Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, February 10th. BMO Capital Markets dropped their price objective 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. Piper Sandler dropped their price target on Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.42.

Apollo Global Management Stock Down 0.9%

Shares of NYSE APO opened at $129.28 on Tuesday. The firm has a market capitalization of $74.76 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.33. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The firm's 50-day moving average is $112.94 and its 200-day moving average is $127.29.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Monday, February 9th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.43. Apollo Global Management had a return on equity of 15.25% and a net margin of 10.90%.The company had revenue of $9.86 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $2.39 EPS. The company's revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that Apollo Global Management Inc. will post 8.44 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 19th were paid a $0.51 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management's dividend payout ratio (DPR) is currently 36.96%.

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.