Apollo Global Management Inc. (NYSE:APO) Stake Boosted by National Pension Service

Key Points

• The National Pension Service increased its stake in Apollo Global Management by 4.2%, owning 880,273 shares valued at $120.55 million as of its latest SEC filing.
• Apollo Global Management reported $1.92 earnings per share for the last quarter, exceeding analysts' expectations of $1.84, with revenue significantly higher than anticipated.
• The company also declared a $0.51 quarterly dividend, resulting in an annualized yield of 1.4%, with a payout ratio of 38.13%.

National Pension Service increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 880,273 shares of the financial services provider's stock after buying an additional 35,165 shares during the quarter. National Pension Service owned 0.15% of Apollo Global Management worth $120,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ellevest Inc. boosted its position in Apollo Global Management by 1.5% during the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock worth $735,000 after purchasing an additional 67 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Apollo Global Management by 2.1% in the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after purchasing an additional 71 shares during the last quarter. Y.D. More Investments Ltd grew its position in Apollo Global Management by 14.4% in the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock worth $85,000 after acquiring an additional 78 shares during the period. Colonial Trust Co SC boosted its position in shares of Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after buying an additional 79 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC boosted its position in shares of Apollo Global Management by 3.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock worth $345,000 after buying an additional 80 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction that occurred 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. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Apollo Global Management Stock Down 0.9%

NYSE APO traded down $1.27 during trading hours on Friday, hitting $139.41. The company had a trading volume of 3,157,630 shares, compared to its average volume of 3,140,754. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm's 50 day moving average is $142.86 and its 200 day moving average is $140.42. The company has a market capitalization of $79.75 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data 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. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company posted $1.64 EPS. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APO shares. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Citigroup lifted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Evercore ISI boosted their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, Barclays lifted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $161.26.

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.