Nippon Life Global Investors Americas Inc. Buys New Position in Apollo Global Management Inc. $APO

Key Points

• Nippon Life Global Investors Americas bought 25,590 Apollo Global Management shares in the second quarter, valued at approximately $3.03 million. Institutional investors collectively own 77.06% of APO.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $152.77 price target, despite one downgrade to “Strong Sell.” Barclays also raised its target to $157.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company declared a $0.5625 quarterly dividend, equivalent to a 1.6% annual yield.

Nippon Life Global Investors Americas Inc. purchased a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 25,590 shares of the financial services provider's stock, valued at approximately $3,028,000.

Several other large investors have also added to or reduced their stakes in APO. Legal & General Group Plc grew its holdings in shares of Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after acquiring an additional 155,857 shares during the period. Sandro Wealth Management LLC purchased a new position in shares of Apollo Global Management in the 4th quarter valued at approximately $1,599,000. Asset Management One Co. Ltd. boosted its position in shares of Apollo Global Management by 6.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider's stock valued at $27,936,000 after purchasing an additional 10,876 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock valued at $6,913,826,000 after purchasing an additional 340,956 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Apollo Global Management by 16.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider's stock worth $14,319,000 after purchasing an additional 13,625 shares during the period. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on APO shares. Barclays raised their price objective on Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Apollo Global Management from a "sell" rating to a "strong sell" rating in a research report on Monday, August 10th. HSBC initiated coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a "buy" rating and a $145.00 price target for the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Apollo Global Management in a research note on Friday, August 7th. Finally, Evercore restated an "outperform" rating on shares of Apollo Global Management in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.77.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

APO opened at $140.69 on Monday. The firm has a market cap of $83.08 billion, a PE ratio of 51.54, a P/E/G ratio of 1.26 and a beta of 1.51. The stock has a 50-day moving average price of $126.53 and a 200-day moving average price of $122.69. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

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 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period last year, the company posted $1.92 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 8.12 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management's dividend payout ratio is currently 82.42%.

Apollo Global Management Company 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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