S&CO Inc. Takes $7.44 Million Position in Apollo Global Management Inc. $APO

Key Points

• S&CO Inc. acquired 62,880 Apollo Global Management shares during the second quarter, representing an investment of approximately $7.44 million. Institutional investors collectively own 77.06% of Apollo’s stock.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $152.77. UBS raised its target to $172, while Wall Street Zen downgraded the stock to “Strong Sell.”
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. The company declared a quarterly dividend of $0.5625, equivalent to a 1.6% yield.

S&CO Inc. purchased a new position in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,880 shares of the financial services provider's stock, valued at approximately $7,439,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock valued at $6,913,826,000 after acquiring an additional 340,956 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock valued at $1,469,793,000 after purchasing an additional 200,312 shares during the period. Northern Trust Corp grew its stake in Apollo Global Management by 1.4% in the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock worth $643,982,000 after purchasing an additional 62,831 shares in the last quarter. Legal & General Group Plc grew its stake in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after purchasing an additional 155,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after purchasing an additional 98,945 shares during the period. Institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APO. UBS Group lifted their target price on Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Morgan Stanley dropped their price target on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen lowered Apollo Global Management from a "sell" rating to a "strong sell" rating in a research note on Monday, August 10th. Evercore restated an "outperform" rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.77.

Apollo Global Management Stock Performance

Shares of APO stock opened at $140.69 on Friday. The firm has a market cap of $83.08 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 1.26 and a beta of 1.51. 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 1.73, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $126.53 and its 200 day moving average is $122.75.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results 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 company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same quarter in the prior year, the company earned $1.92 EPS. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.12 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be given a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's payout ratio is presently 82.42%.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was 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 directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.30% of the company's stock.

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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