Pinebridge Investments LLC Acquires Shares of 57,748 Apollo Global Management Inc. $APO

Key Points

• Pinebridge Investments LLC opened a new position in Apollo Global Management in the fourth quarter, buying 57,748 shares worth about $8.36 million.
• Other institutional investors have also been active in APO, and the stock remains 77.06% owned by institutions and hedge funds.
• Apollo reported quarterly EPS of $1.94, beating estimates, and recently raised its dividend to $0.5625 per share from $0.51, though its payout ratio is high at 143.31%.

Pinebridge Investments LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 57,748 shares of the financial services provider's stock, valued at approximately $8,360,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APO. Schnieders Capital Management LLC. acquired a new position in shares of Apollo Global Management in the second quarter valued at $7,954,000. Baird Financial Group Inc. increased its holdings in shares of Apollo Global Management by 117.5% in the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider's stock valued at $2,287,000 after purchasing an additional 8,709 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Apollo Global Management by 4.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider's stock valued at $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Apollo Global Management in the second quarter valued at $722,000. Finally, Northern Right Capital Management L.P. increased its holdings in shares of Apollo Global Management by 1.5% in the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider's stock valued at $24,542,000 after purchasing an additional 2,500 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. 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 corporate insiders.

Apollo Global Management Trading Down 0.3%

APO stock opened at $128.01 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The company's 50-day simple moving average is $122.81 and its 200 day simple moving average is $127.80. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The company has a market capitalization of $73.80 billion, a PE ratio of 81.53, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company posted $1.82 earnings per share. Apollo Global Management's revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is currently 143.31%.

Analyst Ratings Changes

Several equities analysts recently commented on APO shares. Weiss Ratings downgraded shares of Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Argus upgraded shares of Apollo Global Management to a "strong-buy" rating in a research note on Thursday, February 19th. Piper Sandler upped their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Morgan Stanley decreased their price target on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.23.

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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