Legal & General Group Plc Takes Position in Apollo Global Management Inc. $APO

Key Points

• Legal & General Group Plc acquired 3.89 million Apollo Global Management shares in the second quarter, worth approximately $460 million and representing a 0.67% stake. Institutional investors collectively own 77.06% of Apollo.
• Apollo reported quarterly earnings of $2.11 per share and revenue of $5.57 billion, both slightly below analyst expectations. Analysts forecast full-year EPS of $8.08.
• Apollo declared a quarterly dividend of $0.5625 per share, or $2.25 annually, yielding about 1.7%. Analysts maintain a “Moderate Buy” consensus with an average price target of $152.77.

Legal & General Group Plc acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,887,979 shares of the financial services provider's stock, valued at approximately $459,987,000. Legal & General Group Plc owned 0.67% of Apollo Global Management at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APO. Sunbelt Securities Inc. raised its stake in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 82 shares in the last quarter. 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 in the last quarter. Glen Eagle Advisors LLC grew its stake in shares of Apollo Global Management by 33.3% in the fourth quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider's stock worth $56,000 after purchasing an additional 96 shares in the last quarter. Kestra Investment Management LLC increased its holdings in shares of Apollo Global Management by 2.1% during the fourth quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider's stock valued at $684,000 after purchasing an additional 99 shares during the period. Finally, Ramirez Asset Management Inc. raised its stake in shares of Apollo Global Management by 25.0% during the fourth quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 100 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Up 0.4%

Apollo Global Management stock opened at $133.27 on Wednesday. The firm has a market cap of $78.70 billion, a price-to-earnings ratio of 48.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm's 50 day moving average price is $126.46 and its two-hundred day moving average price is $122.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period in the prior year, the business earned $1.92 earnings per share. On average, research analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 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%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's dividend payout ratio is currently 82.42%.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

APO has been the subject of several research analyst reports. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. UBS Group boosted their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $152.77.

About Apollo Global Management

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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