Meiji Yasuda Asset Management Co Ltd. Buys 22,387 Shares of Apollo Global Management Inc. $APO

Key Points

• Meiji Yasuda Asset Management boosted its Apollo Global Management stake by 1,137.6% in the fourth quarter, ending with 24,355 shares worth about $3.53 million.
• Wall Street sentiment remains mostly positive, with analysts assigning a consensus rating of Moderate Buy and an average price target of $150.38, though some firms recently cut targets or ratings.
• Apollo reported Q1 earnings of $1.94 per share, beating estimates, and also raised its quarterly dividend to $0.5625 per share, up from $0.51.

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 1,137.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,355 shares of the financial services provider's stock after acquiring an additional 22,387 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Apollo Global Management were worth $3,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FourThought Financial Partners LLC bought a new stake in Apollo Global Management in the 4th quarter valued at $315,000. Global Retirement Partners LLC increased its holdings in Apollo Global Management by 5.7% in the 4th quarter. Global Retirement Partners LLC now owns 10,198 shares of the financial services provider's stock valued at $1,476,000 after buying an additional 554 shares during the period. Motco increased its holdings in Apollo Global Management by 0.4% in the 4th quarter. Motco now owns 92,038 shares of the financial services provider's stock valued at $13,323,000 after buying an additional 343 shares during the period. Leonteq Securities AG bought a new stake in Apollo Global Management in the 4th quarter valued at $2,211,000. Finally, ABN Amro Investment Solutions increased its holdings in Apollo Global Management by 317.2% in the 4th quarter. ABN Amro Investment Solutions now owns 19,652 shares of the financial services provider's stock valued at $2,845,000 after buying an additional 14,942 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Argus raised shares of Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. BMO Capital Markets lowered their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a report on Tuesday, March 24th. Finally, Wall Street Zen lowered shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $150.38.

Apollo Global Management Stock Down 1.8%

APO opened at $128.50 on Friday. The firm's 50-day simple moving average is $118.81 and its 200-day simple moving average is $127.96. 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 twelve month low of $99.56 and a twelve month high of $157.28. The firm has a market cap of $74.08 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 1.10 and a beta of 1.52.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The firm's quarterly revenue was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Apollo Global Management Inc. will post 8.29 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's payout ratio is currently 143.31%.

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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