Tokio Marine Asset Management Co. Ltd. Buys 2,497 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• Tokio Marine Asset Management increased its stake in Apollo Global Management by 19.6%, now owning 15,260 shares valued at approximately $2,090,000.
• Apollo Global Management's upgraded earnings report revealed an EPS of $1.92 for the quarter, exceeding expectations, with total revenue of $6.55 billion.
• The company recently declared a quarterly dividend of $0.51, yielding 1.4%, with a payout ratio of 38.13%.

Tokio Marine Asset Management Co. Ltd. raised its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,260 shares of the financial services provider's stock after buying an additional 2,497 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Apollo Global Management were worth $2,090,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at approximately $25,000. GW&K Investment Management LLC grew its holdings in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management during the 1st quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 172 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APO shares. Barclays lifted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group cut their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. 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 report on Thursday, July 10th. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Piper Sandler cut their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $161.26.

Apollo Global Management Stock Down 0.9%

APO traded down $1.27 during trading on Friday, hitting $139.41. 3,157,630 shares of the company's stock were exchanged, compared to its average volume of 3,140,754. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The business's 50 day moving average is $142.86 and its two-hundred day moving average is $140.42. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The stock has a market cap of $79.75 billion, a P/E ratio of 26.06, a PEG ratio of 1.45 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

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

Insider Activity

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

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.