UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,657,781 shares of the financial services provider's stock after acquiring an additional 234,517 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.96% of Apollo Global Management worth $669,372,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of Apollo Global Management in the second quarter valued at approximately $459,987,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management during the 2nd quarter worth approximately $336,644,000. Boston Partners lifted its holdings in Apollo Global Management by 106.7% during the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock worth $474,384,000 after buying an additional 1,692,532 shares in the last quarter. Temasek Holdings Private Ltd boosted its position in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock valued at $263,861,000 after buying an additional 1,614,813 shares during the period. Finally, Deutsche Bank AG purchased a new position in Apollo Global Management in the 2nd quarter valued at approximately $172,290,000. Institutional investors and hedge funds own 77.06% of the company's stock.
Insider Activity at Apollo Global Management
In related news, CFO Martin Kelly sold 3,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms have recently weighed in on APO. Weiss Ratings raised Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. TD Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Thursday, August 6th. HSBC assumed coverage on Apollo Global Management in a research note on Monday, July 20th. They issued a "buy" rating and a $145.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.77.
View Our Latest Stock Report on Apollo Global Management
Apollo Global Management Price Performance
APO stock opened at $135.39 on Friday. The business has a 50 day moving average price of $126.22 and a 200 day moving average price of $122.87. The stock has a market cap of $79.95 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.22 and a beta of 1.51. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.
Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.65 billion. During the same quarter in the prior year, the company earned $1.92 earnings per share. Equities research analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.
Apollo Global Management Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's payout ratio is presently 82.42%.
About Apollo Global Management
(
Free Report)
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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