Mirae Asset Global Investments Co. Ltd. Makes New $16.15 Million Investment in Apollo Global Management Inc. $APO

Key Points

• Mirae Asset Global Investments opened a $16.15 million position in Apollo, buying 139,183 shares in the third quarter. Institutional investors collectively own 77.06% of the company’s stock.
• Apollo’s reported Q3 results fell short of estimates: earnings per share were $2.11 versus $2.16 expected, and the company reported a $1.06 billion net loss attributable to common stockholders. The article also says the stock was down 4.8%.
• Apollo launched a European private-credit platform with more than €10 billion in initial lending capacity, while reported loan originations reached a record $114 billion and assets under management rose to $1.07 trillion.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 139,183 shares of the financial services provider's stock, valued at approximately $16,154,000.

Several other hedge funds and other institutional investors have also bought and sold shares of APO. Legal & General Group Plc bought a new position in shares of Apollo Global Management in the 2nd quarter worth $459,987,000. Bank of New York Mellon Corp bought a new stake in Apollo Global Management during the second quarter valued at about $336,644,000. Temasek Holdings Private Ltd boosted its position in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock valued at $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Deutsche Bank AG bought a new stake in Apollo Global Management during the second quarter valued at about $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Apollo Global Management during the second quarter valued at about $136,528,000. Institutional investors own 77.06% of the company's stock.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction dated 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 directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.

More Apollo Global Management News

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo launched the European Credit Company, a private-credit platform with more than €10 billion in initial lending capacity. It broadens Apollo’s reach across corporate, asset-backed, infrastructure and real-estate lending. Apollo Announces the Launch of European Credit Company
• Positive Sentiment: Loan originations reportedly reached a record $114 billion, while assets under management climbed to $1.07 trillion, highlighting demand for alternative financing and Apollo’s scale. Apollo’s originations rise to a record $114 billion
• Positive Sentiment: Fee-related earnings reportedly exceeded expectations, offering a bright spot amid the broader earnings disappointment. Apollo Global Q3 earnings disappoint, but fee-related earnings surprise to the upside
• Positive Sentiment: Apollo declared a quarterly dividend of $0.5625 per share, equivalent to $2.25 annually. Apollo Global Management dividend announcement
• Neutral Sentiment: The firm plans to spend $350 million on a software overhaul for private-credit trading. The investment may support operations over time, but adds near-term spending. Apollo to Spend $350 Million on Software Overhaul
• Negative Sentiment: Q3 earnings missed analyst expectations, and Apollo swung to a $1.06 billion net loss attributable to common stockholders from net income a year earlier, largely due to investment-related losses. Reports also cited rising expenses. The shortfall is the clearest near-term headwind for APO shares. Apollo Global Swings to a Loss on Investment-Related Losses

Apollo Global Management Trading Down 4.8%

NYSE APO opened at $113.76 on Wednesday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a fifty day simple moving average of $121.66 and a two-hundred day simple moving average of $123.30. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market cap of $67.18 billion, a P/E ratio of 41.67, a P/E/G ratio of 1.10 and a beta of 1.51.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period last year, the firm earned $1.92 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 7.96 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Wednesday, November 18th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.0%. Apollo Global Management's dividend payout ratio is currently 82.42%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Rothschild & Co Redburn increased their price target on shares of Apollo Global Management from $171.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wells Fargo & Company initiated coverage on shares of Apollo Global Management in a report on Friday, October 2nd. They issued an "equal weight" rating and a $127.00 price target on the stock. Evercore raised their price target on shares of Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Apollo Global Management from $154.00 to $148.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.40.

Apollo Global Management Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.