MidFirst Bank Purchases New Shares in Apollo Global Management Inc. $APO

Key Points

• MidFirst Bank opened a new position in Apollo Global Management in the fourth quarter, buying 14,813 shares valued at about $2.14 million.
• Apollo reported Q1 earnings of $1.94 per share, topping analyst estimates, though revenue of $5.06 billion missed expectations and fell 8.8% from a year earlier.
• The company raised its quarterly dividend to $0.5625 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $151.23.

MidFirst Bank purchased a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,813 shares of the financial services provider's stock, valued at approximately $2,144,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Schnieders Capital Management LLC. purchased a new stake in shares of Apollo Global Management during the second quarter worth about $7,954,000. Baird Financial Group Inc. boosted its holdings in Apollo Global Management by 117.5% in the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider's stock worth $2,287,000 after buying an additional 8,709 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider's stock worth $949,000 after buying an additional 305 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in Apollo Global Management during the 2nd quarter worth approximately $722,000. Finally, Northern Right Capital Management L.P. raised its holdings in shares of Apollo Global Management by 1.5% during the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider's stock valued at $24,542,000 after acquiring an additional 2,500 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 0.8%

APO opened at $137.85 on Friday. The firm has a market capitalization of $79.47 billion, a price-to-earnings ratio of 87.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The company's 50 day simple moving average is $127.53 and its two-hundred day simple moving average is $128.17. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business earned $1.82 earnings per share. The business's revenue was down 8.8% compared to the same quarter last year. Analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction on 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 directly owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on APO shares. Barclays raised their target price 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. Morgan Stanley reduced their price objective on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets reduced their price objective on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating for the company in a research note on Tuesday, March 24th. Royal Bank Of Canada raised their price objective on Apollo Global Management from $139.00 to $146.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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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