Hsbc Holdings PLC Grows Position in Apollo Global Management Inc. $APO

Key Points

• HSBC Holdings PLC increased its stake in Apollo Global Management by 7.1% in the fourth quarter, owning 894,451 shares worth about $129.8 million at quarter-end.
• Apollo reported better-than-expected quarterly earnings of $1.94 per share, though revenue of $5.06 billion missed estimates and fell 8.8% year over year.
• The company also raised its quarterly dividend to $0.5625 per share, while analysts remain cautiously positive with a consensus rating of “Moderate Buy” and a price target of $151.23.

Hsbc Holdings PLC grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 894,451 shares of the financial services provider's stock after acquiring an additional 59,585 shares during the quarter. Hsbc Holdings PLC owned about 0.15% of Apollo Global Management worth $129,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Boston Partners raised its stake in Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock valued at $474,384,000 after purchasing an additional 1,692,532 shares in the last quarter. Focus Partners Wealth grew its stake in Apollo Global Management by 2,560.3% in the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider's stock worth $203,324,000 after buying an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Apollo Global Management by 271.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider's stock worth $148,255,000 after buying an additional 748,697 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of Apollo Global Management by 879.2% in the 4th quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider's stock worth $109,055,000 after buying an additional 676,411 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Apollo Global Management by 5,321.9% during the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider's stock valued at $79,845,000 after buying an additional 541,397 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

APO stock opened at $137.85 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The firm's fifty day moving average is $128.15 and its 200 day moving average is $128.21. The firm has a market cap of $79.47 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.18 and a beta of 1.50.

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 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. Research analysts predict that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 143.31%.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction dated 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 owned 3,063,696 shares of the company's stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APO. UBS Group lifted their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Piper Sandler raised their price target on Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Barclays raised their price target 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. BMO Capital Markets cut their price objective on 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. Finally, Weiss Ratings cut Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. One investment 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 stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.23.

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.

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