HighTower Advisors LLC Grows Stake in Apollo Global Management Inc. $APO

Key Points

• HighTower Advisors LLC increased its stake in Apollo Global Management by 129.5% in the fourth quarter, bringing its holdings to 272,141 shares worth about $39.4 million.
• Apollo reported Q1 earnings of $1.94 per share, beating analyst estimates, though revenue came in below expectations and fell 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, implying an annualized dividend of $2.25 and a yield of about 1.7%.

HighTower Advisors LLC boosted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 129.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,141 shares of the financial services provider's stock after purchasing an additional 153,544 shares during the period. HighTower Advisors LLC's holdings in Apollo Global Management were worth $39,395,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its stake in 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 in the last quarter. NEOS Investment Management LLC grew its holdings in Apollo Global Management by 48.7% during 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 buying an additional 17,204 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Apollo Global Management by 11.0% during 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 buying an additional 89,439 shares during the last quarter. Cornerstone Investment Partners LLC grew its holdings in Apollo Global Management by 23.6% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider's stock valued at $84,029,000 after buying an additional 120,558 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Apollo Global Management by 60.0% during the 3rd quarter. UMB Bank n.a. now owns 109,672 shares of the financial services provider's stock valued at $14,616,000 after buying an additional 41,142 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO stock opened at $130.98 on Friday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $157.28. The stock's fifty day simple moving average is $118.36 and its 200-day simple moving average is $127.96. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $75.51 billion, a price-to-earnings ratio of 83.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.52.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business's revenue was down 8.8% on a year-over-year basis. Equities research analysts expect that Apollo Global Management Inc. will post 8.32 EPS for the current year.

Apollo Global Management Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on APO shares. Argus upgraded Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Piper Sandler lowered their target price on Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Wall Street Zen cut Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, UBS Group increased their target price on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $150.38.

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.

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.