LGT Capital Partners LTD. Grows Stake in Apollo Global Management Inc. (NYSE:APO)

Key Points

• LGT Capital Partners LTD. increased its stock holdings in Apollo Global Management Inc. by 16% in Q1, totaling 278,500 shares valued at approximately $38.1 million.
• Several hedge funds significantly raised their stakes in Apollo during the fourth quarter, with Price T Rowe Associates and Northern Trust Corp increasing their holdings by 36.9% and 50%, respectively.
• Analysts have mixed targets for Apollo’s stock, with ratings ranging from a "strong buy" to "neutral," resulting in a consensus price target of $161.00.

LGT Capital Partners LTD. raised its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 278,500 shares of the financial services provider's stock after acquiring an additional 38,500 shares during the quarter. Apollo Global Management makes up 1.7% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 18th biggest holding. LGT Capital Partners LTD.'s holdings in Apollo Global Management were worth $38,138,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. World Investment Advisors lifted its stake in Apollo Global Management by 2.5% in the fourth quarter. World Investment Advisors now owns 6,996 shares of the financial services provider's stock valued at $1,156,000 after buying an additional 173 shares during the last quarter. Pitcairn Co. purchased a new stake in Apollo Global Management in the 4th quarter valued at $250,000. Landscape Capital Management L.L.C. purchased a new position in Apollo Global Management during the 4th quarter worth $500,000. Smith Moore & CO. raised its holdings in shares of Apollo Global Management by 2.8% in the fourth quarter. Smith Moore & CO. now owns 3,685 shares of the financial services provider's stock valued at $609,000 after buying an additional 100 shares during the last quarter. Finally, Riverwater Partners LLC purchased a new position in shares of Apollo Global Management during the fourth quarter worth about $325,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APO shares. Wells Fargo & Company increased their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday. Raymond James Financial began coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target on the stock. Finally, Piper Sandler reduced their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.26.

Apollo Global Management Trading Down 4.7%

Apollo Global Management stock traded down $6.86 during trading on Thursday, hitting $139.01. The company's stock had a trading volume of 1,641,906 shares, compared to its average volume of 3,612,909. The stock's fifty day moving average is $141.40 and its 200 day moving average is $141.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.27. Apollo Global Management Inc. has a 1-year low of $102.14 and a 1-year high of $189.49. The stock has a market capitalization of $79.44 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.64 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.23%. During the same quarter last year, the business earned $1.64 EPS. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's payout ratio is 35.73%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.