Tocqueville Asset Management L.P. Takes Position in Apollo Global Management Inc. $APO

Key Points

• Tocqueville Asset Management acquired 259,516 Apollo Global Management shares worth approximately $30.7 million, while other institutions also opened positions. Institutional investors now own 77.06% of the stock.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $152.77. UBS and Barclays recently raised their price targets to $172 and $157, respectively.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, on revenue of $5.57 billion. The company declared a quarterly dividend of $0.5625 per share, equivalent to a 1.7% annualized yield.

Tocqueville Asset Management L.P. acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 259,516 shares of the financial services provider's stock, valued at approximately $30,703,000.

A number of other large investors have also recently made changes to their positions in APO. Mmbg Investment Advisors CO. acquired a new stake in Apollo Global Management in the second quarter valued at approximately $2,607,000. NewEdge Wealth LLC acquired a new position in Apollo Global Management during the 2nd quarter worth approximately $10,222,000. Empirical Asset Management LLC purchased a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $252,000. Great Lakes Advisors LLC purchased a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $356,000. Finally, Danske Bank A S acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at $22,951,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction that occurred on 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 sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 8.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group increased their target price on Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Wall Street Zen raised Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday. Keefe, Bruyette & Woods raised Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. Barclays increased their price objective on Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Finally, TD Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $152.77.

Apollo Global Management Price Performance

Shares of APO opened at $133.59 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The stock has a market cap of $78.89 billion, a PE ratio of 48.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The firm has a fifty day moving average price of $126.74 and a 200 day moving average price of $122.71.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the previous year, the business posted $1.92 EPS. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.12 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a yield of 1.7%. Apollo Global Management's payout ratio is 82.42%.

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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