Telligent Fund LP Acquires Shares of 6,000 Apollo Global Management Inc. (NYSE:APO)

Key Points

• Telligent Fund LP invested approximately $822,000 in Apollo Global Management Inc., acquiring 6,000 shares in the first quarter.
• Apollo Global Management's recent earnings report showed a profit of $1.92 per share, exceeding estimates, and the company announced a quarterly dividend of $0.51 per share.
• Institutional investors and hedge funds own 77.06% of Apollo Global Management, indicating significant confidence in the company among large financial players.

Telligent Fund LP bought a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the financial services provider's stock, valued at approximately $822,000. Apollo Global Management makes up 0.9% of Telligent Fund LP's investment portfolio, making the stock its 27th largest holding.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Northern Trust Corp raised its stake in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock valued at $490,482,000 after acquiring an additional 706,181 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock valued at $412,641,000 after acquiring an additional 112,736 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Activity

In related news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on APO shares. Barclays raised their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Evercore ISI lifted their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Piper Sandler lowered their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Citigroup lifted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.26.

Apollo Global Management Price Performance

APO stock traded down $1.27 during midday trading on Friday, reaching $139.41. The company had a trading volume of 3,157,626 shares, compared to its average volume of 3,625,381. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a 50-day moving average price of $142.74 and a 200-day moving average price of $140.84. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The company has a market capitalization of $79.67 billion, a P/E ratio of 26.06, a P/E/G ratio of 1.47 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter last year, the firm earned $1.64 EPS. On average, research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.