Swedbank AB Has $33.06 Million Holdings in Apollo Global Management Inc. $APO

Key Points

• Swedbank AB significantly increased its stake in Apollo Global Management, boosting its holdings by 182.5% in the fourth quarter to 228,404 shares worth about $33.1 million.
• Apollo reported better-than-expected earnings of $1.94 per share for the quarter, though revenue of $5.06 billion came in below estimates and fell 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share, lifting the annualized payout to $2.25 and the dividend yield to 1.8%.

Swedbank AB raised its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 182.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,404 shares of the financial services provider's stock after buying an additional 147,557 shares during the period. Swedbank AB's holdings in Apollo Global Management were worth $33,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its position in Apollo Global Management by 99.0% in the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the fourth quarter valued at about $29,000. Physician Wealth Advisors Inc. boosted its position in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after buying an additional 96 shares in the last quarter. City Holding Co. boosted its position in Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after buying an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Apollo Global Management by 54.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider's stock worth $53,000 after purchasing an additional 129 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 0.0%

APO opened at $128.50 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $74.08 billion, a price-to-earnings ratio of 81.85, a price-to-earnings-growth ratio of 1.08 and a beta of 1.52. The firm has a 50 day simple moving average of $118.81 and a 200 day simple moving average of $127.99. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.29 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, May 19th. Apollo Global Management's payout ratio is presently 143.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APO. Argus upgraded shares of Apollo Global Management to a "strong-buy" rating in a research report on Thursday, February 19th. Evercore reiterated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Royal Bank Of Canada upped their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 10th. Finally, Morgan Stanley reduced their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $150.38.

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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