Rakuten Investment Management Inc. Purchases New Position in Apollo Global Management Inc. $APO

Key Points

• Rakuten Investment Management acquired 73,021 shares of Apollo Global Management in the second quarter, valued at approximately $8.4 million. Institutional investors collectively own 77.06% of APO.
• Apollo’s latest quarterly results missed expectations, with EPS of $2.11 versus the $2.16 consensus and revenue of $5.57 billion versus $5.65 billion expected.
• APO shares opened at $135.39, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $152.77. Apollo also declared a quarterly dividend of $0.5625 per share, implying a 1.7% annual yield.

Rakuten Investment Management Inc. bought a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 73,021 shares of the financial services provider's stock, valued at approximately $8,385,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. Schnieders Capital Management LLC. purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth about $7,954,000. Baird Financial Group Inc. grew its holdings in 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 worth $2,287,000 after purchasing an additional 8,709 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Apollo Global Management by 4.8% during 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 in the last quarter. Nebula Research & Development LLC purchased a new position in shares of Apollo Global Management during the second quarter valued at approximately $722,000. Finally, Northern Right Capital Management L.P. boosted its position in shares of Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider's stock worth $24,542,000 after purchasing an additional 2,500 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company's stock.

Apollo Global Management Stock Up 1.5%

APO stock opened at $135.39 on Friday. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The business's 50-day moving average is $126.22 and its two-hundred day moving average is $122.87. 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 has a market cap of $79.95 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 1.22 and a beta of 1.51.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. As a group, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. BMO Capital Markets reduced their price objective on shares of 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. Barclays upped their target price 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. Finally, Morgan Stanley decreased their price objective on shares of 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 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

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