Menora Mivtachim Holdings LTD. Acquires 70,000 Shares of Apollo Global Management Inc. $APO

Key Points

• Menora Mivtachim Holdings LTD. increased its holdings in Apollo Global Management by 6.8%, owning a total of 1,096,396 shares valued at approximately $150.14 million.
• Apollo Global Management's shares saw updates from analysts, with Citigroup raising the price target from $160.00 to $170.00 while retaining a "buy" rating.
• The company recently declared a quarterly dividend of $0.51 per share, reflecting a 1.5% annual yield with a payout ratio of 38.13%.

Menora Mivtachim Holdings LTD. increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,096,396 shares of the financial services provider's stock after acquiring an additional 70,000 shares during the quarter. Menora Mivtachim Holdings LTD. owned about 0.19% of Apollo Global Management worth $150,140,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Apollo Global Management by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock valued at $75,347,000 after buying an additional 7,441 shares during the period. Clearview Wealth Advisors LLC increased its holdings in Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after buying an additional 17,418 shares during the period. Toronto Dominion Bank increased its holdings in Apollo Global Management by 209.0% in the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after buying an additional 110,014 shares during the period. Sowell Financial Services LLC bought a new position in Apollo Global Management in the 1st quarter valued at about $871,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Apollo Global Management in the 1st quarter valued at about $492,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 1.2%

Shares of NYSE APO traded down $1.6810 during midday trading on Wednesday, reaching $135.3990. The stock had a trading volume of 2,673,342 shares, compared to its average volume of 3,604,510. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The company's 50 day moving average price is $143.01 and its 200 day moving average price is $139.96.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter in the previous year, the company earned $1.64 EPS. As a group, sell-side analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent analyst reports. Piper Sandler decreased their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Citigroup raised their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $163.28.

About Apollo Global Management

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.