Punch & Associates Investment Management Inc. Makes New Investment in Apollo Global Management Inc. $APO

Key Points

• Punch & Associates acquired 98,139 shares of Apollo Global Management in the second quarter, valued at approximately $11.6 million. Institutional investors collectively own 77.06% of APO’s outstanding stock.
• Apollo reported quarterly EPS of $2.11, slightly below the $2.16 consensus, while revenue of $5.57 billion also missed expectations. The company declared a quarterly dividend of $0.5625, representing a 1.7% yield.
• Wall Street maintains a generally positive view, with an average “Moderate Buy” rating and a consensus price target of $152.77, above the reported share price of $133.64.

Punch & Associates Investment Management Inc. acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,139 shares of the financial services provider's stock, valued at approximately $11,611,000.

Several other institutional investors have also recently modified their holdings of APO. Bamco Inc. NY acquired a new stake in shares of Apollo Global Management during the second quarter worth about $13,002,000. Basswood Capital Management L.L.C. acquired a new position in Apollo Global Management in the 2nd quarter worth approximately $2,998,000. Freestone Grove Partners LP purchased a new position in Apollo Global Management during the 2nd quarter worth approximately $67,851,000. Caisse de depot et placement du Quebec purchased a new position in Apollo Global Management during the 2nd quarter worth approximately $935,000. Finally, Odyssean LLC acquired a new stake in Apollo Global Management during the 2nd quarter valued at approximately $2,627,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company's stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.30% of the company's stock.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $133.64 on Thursday. The company has a market capitalization of $78.92 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. 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 company's fifty day moving average price is $126.36 and its 200 day moving average price is $122.78. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion during 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 in the previous year, the firm posted $1.92 EPS. On average, research analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management's payout ratio is currently 82.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APO. Barclays increased their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Thursday, August 6th. Piper Sandler cut their price target 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. BMO Capital Markets reduced their price objective on Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a research note on Monday, July 13th. Finally, Morgan Stanley decreased their price objective on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. One 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 an average rating of "Moderate Buy" and a consensus price target of $152.77.

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.

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