Tiger Global Management LLC Has $366.94 Million Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• Tiger Global Management cut its Apollo Global Management stake by 47% in the first quarter, but still held 3.29 million shares worth about $366.9 million at quarter-end.
• Other institutional investors also made large moves in APO, with firms like Boston Partners and Temasek significantly increasing their holdings; overall, institutions own about 77.06% of the stock.
• Analyst sentiment remains constructive: the consensus rating is Moderate Buy with a target price of $149.08, even as some firms trimmed price targets and Apollo’s shares traded around $122.53.

Tiger Global Management LLC trimmed its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,293,334 shares of the financial services provider's stock after selling 2,916,162 shares during the period. Apollo Global Management comprises about 1.6% of Tiger Global Management LLC's holdings, making the stock its 17th largest position. Tiger Global Management LLC owned approximately 0.57% of Apollo Global Management worth $366,943,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APO. Boston Partners lifted its position in Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock valued at $474,384,000 after acquiring an additional 1,692,532 shares in the last quarter. Temasek Holdings Private Ltd increased its holdings in Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Focus Partners Wealth increased its holdings in Apollo Global Management by 2,560.3% during the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider's stock worth $203,324,000 after purchasing an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Apollo Global Management by 271.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider's stock worth $148,255,000 after purchasing an additional 748,697 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Apollo Global Management by 5,321.9% in the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider's stock worth $79,845,000 after purchasing an additional 541,397 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APO. BMO Capital Markets cut their target price on Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating on the stock in a research report on Monday, July 13th. Barclays increased their price target on Apollo Global Management from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. UBS Group lifted their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a report on Friday, May 8th. TD Cowen reduced their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Finally, Morgan Stanley cut their target price on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.08.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.30% of the company's stock.

Apollo Global Management Trading Up 3.0%

Shares of Apollo Global Management stock opened at $122.53 on Friday. The stock has a market capitalization of $70.64 billion, a P/E ratio of 78.04, a P/E/G ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The stock's 50-day simple moving average is $126.18 and its 200 day simple moving average is $124.14.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its 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 firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company's quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8.19 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is currently 143.31%.

About Apollo Global Management

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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