NEOS Investment Management LLC Grows Position in Apollo Global Management Inc. $APO

Key Points

• NEOS Investment Management increased its Apollo Global Management stake by 12.4% in the second quarter, bringing its holdings to 75,028 shares valued at approximately $8.9 million. Institutional investors collectively own 77.06% of APO.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $152.15; price targets recently ranged from $156 to $157 among bullish analysts.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company paid a quarterly dividend of $0.5625 per share, equivalent to a 1.7% annual yield.

NEOS Investment Management LLC lifted its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,028 shares of the financial services provider's stock after purchasing an additional 8,289 shares during the quarter. NEOS Investment Management LLC's holdings in Apollo Global Management were worth $8,877,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in APO. Continuum Advisory LLC purchased a new position in Apollo Global Management in the second quarter valued at $30,000. Nykredit A S acquired a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $15,669,000. B. Metzler seel. Sohn & Co. AG grew its position in shares of Apollo Global Management by 14.8% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 20,556 shares of the financial services provider's stock valued at $2,432,000 after acquiring an additional 2,652 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Apollo Global Management in the 2nd quarter valued at about $262,000. Finally, Rehmann Capital Advisory Group increased its stake in shares of Apollo Global Management by 1.2% in the 2nd quarter. Rehmann Capital Advisory Group now owns 17,611 shares of the financial services provider's stock valued at $2,084,000 after purchasing an additional 207 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of recent analyst reports. Barclays increased their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Weiss Ratings raised Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Piper Sandler decreased their target price on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.15.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.30% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

NYSE APO opened at $133.65 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock's fifty day moving average is $127.03 and its two-hundred day moving average is $123.05. The firm has a market capitalization of $78.93 billion, a P/E ratio of 48.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same quarter in the prior year, the firm earned $1.92 EPS. On average, research analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source