Panagora Asset Management Inc. Acquires 229,561 Shares of Apollo Global Management Inc. $APO

Key Points

• Panagora Asset Management Inc. increased its stake in Apollo Global Management by 93.3%, acquiring an additional 229,561 shares during the first quarter, bringing its total holdings to 475,680 shares valued at approximately $65.14 million.
• Apollo Global Management reported earnings of $1.92 per share for the last quarter, exceeding expectations and demonstrating solid financial performance with a net margin of 13.25%.
• The company recently announced a quarterly dividend of $0.51, yielding 1.5%, with a payout ratio of 38.13%.

Panagora Asset Management Inc. grew its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 93.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 475,680 shares of the financial services provider's stock after buying an additional 229,561 shares during the period. Panagora Asset Management Inc. owned approximately 0.08% of Apollo Global Management worth $65,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Apollo Global Management by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock valued at $75,347,000 after buying an additional 7,441 shares during the period. Clearview Wealth Advisors LLC grew its holdings in shares of Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after buying an additional 17,418 shares during the period. Toronto Dominion Bank grew its holdings in shares of Apollo Global Management by 209.0% in the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after buying an additional 110,014 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Apollo Global Management in the 1st quarter valued at $871,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Apollo Global Management in the 1st quarter valued at $492,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APO shares. Evercore ISI upped their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Citigroup upped their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Wells Fargo & Company upped their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Barclays upped their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Stock Performance

NYSE:APO traded down $3.20 during mid-day trading on Wednesday, hitting $132.64. The stock had a trading volume of 4,544,215 shares, compared to its average volume of 3,600,685. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The stock has a market cap of $75.87 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.47 and a beta of 1.69. The company's 50 day simple moving average is $143.08 and its 200 day simple moving average is $138.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $1.64 EPS. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio is currently 38.13%.

Insider Activity

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Company Profile

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.