Saudi Central Bank Increases Holdings in Apollo Global Management Inc. $APO

Key Points

• Saudi Central Bank increased its Apollo Global Management stake by 82.6% in the second quarter, bringing its holdings to 29,346 shares valued at approximately $3.47 million.
• Institutional investors collectively own 77.06% of Apollo’s stock, while the shares recently traded at $133.65, below the consensus analyst price target of $152.15. Analysts maintain a “Moderate Buy” consensus.
• Apollo reported quarterly EPS of $2.11, missing estimates by $0.05, and revenue of $5.57 billion, below expectations. The company paid a quarterly dividend of $0.5625, equivalent to a 1.7% annualized yield.

Saudi Central Bank lifted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 82.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,346 shares of the financial services provider's stock after acquiring an additional 13,278 shares during the period. Saudi Central Bank's holdings in Apollo Global Management were worth $3,472,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APO. Geode Capital Management LLC lifted its holdings in Apollo Global Management by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock worth $1,469,793,000 after purchasing an additional 200,312 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Apollo Global Management by 4.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock valued at $669,372,000 after buying an additional 234,517 shares during the last quarter. Northern Trust Corp raised its position in shares of Apollo Global Management by 1.4% during the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock valued at $643,982,000 after buying an additional 62,831 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Apollo Global Management in the second quarter worth $459,987,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Apollo Global Management by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after acquiring an additional 98,945 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $133.65 on Monday. The firm has a fifty day simple moving average of $127.03 and a two-hundred day simple moving average of $123.03. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $78.93 billion, a P/E ratio of 48.96, a PEG ratio of 1.17 and a beta of 1.52.

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

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Barclays lifted their target price on Apollo Global Management from $132.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. TD Cowen reissued a "buy" rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upgraded Apollo Global Management to a "hold" rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $152.15.

Apollo Global Management 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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