Wesbanco Bank Inc. Acquires Shares of 32,053 Apollo Global Management Inc. $APO

Key Points

• Wesbanco Bank disclosed a new fourth-quarter stake in Apollo Global Management, buying 32,053 shares valued at about $4.64 million.
• Institutional interest in APO remains strong, with large holders like Vanguard and Northern Trust increasing positions and 77.06% of the stock now owned by institutions.
• Apache? Sorry — Apollo’s latest results showed EPS of $1.94, topping expectations, and the company also raised its quarterly dividend to $0.5625 per share.

Wesbanco Bank Inc. acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,053 shares of the financial services provider's stock, valued at approximately $4,640,000.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Vanguard Group Inc. increased its stake in Apollo Global Management by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider's stock valued at $6,319,617,000 after purchasing an additional 1,377,545 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Apollo Global Management by 31.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider's stock valued at $215,530,000 after acquiring an additional 383,198 shares during the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of Apollo Global Management by 62.0% during the 3rd quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider's stock valued at $132,834,000 after acquiring an additional 381,479 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Apollo Global Management by 7.3% during the 3rd quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider's stock valued at $584,494,000 after acquiring an additional 299,698 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at about $40,454,000. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday. Argus raised shares of Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. Royal Bank Of Canada raised their price target on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a "sector perform" rating in a report on Thursday. BMO Capital Markets dropped their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a report on Tuesday, March 24th. Finally, Evercore reaffirmed an "outperform" rating on shares of Apollo Global Management in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $150.75.

More Apollo Global Management News

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo reported first-quarter results that beat earnings expectations, with stronger fee-related earnings and assets under management surpassing $1 trillion, highlighting momentum in its core business and supporting the stock. Apollo Global Q1 earnings top earnings on strong fee-related earnings; AUM exceeds 1T
• Positive Sentiment: The company also raised its quarterly dividend by 10.3%, which signals confidence in cash generation and can be viewed favorably by income-oriented investors. Apollo Funds Complete Acquisition of Prosol Group
• Positive Sentiment: Reports that Apollo is part of a potential $35 billion financing package for Broadcom suggest growing demand for its private credit capabilities and could expand fee income if the deal closes. Apollo, Blackstone Weigh 35 Billion Financing for Broadcom
• Neutral Sentiment: Apollo also completed its acquisition of a majority stake in Prosol Group, which adds to its private equity portfolio but is not likely to be a near-term stock catalyst on its own. Apollo Funds Complete Acquisition of Prosol Group
• Neutral Sentiment: Management is also pushing for more transparency in private credit valuations, a move that may help fundraising over time but does not directly change near-term earnings. Apollo Seeks an Edge With Credit Fund Transparency Push

Apollo Global Management Stock Performance

APO opened at $133.15 on Friday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28. The company has a market cap of $76.99 billion, a price-to-earnings ratio of 84.81, a PEG ratio of 1.16 and a beta of 1.52. The company's 50 day moving average is $113.74 and its 200 day moving average is $127.41. The company has a current ratio of 1.73, a quick ratio of 1.31 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter last year, the business earned $1.82 EPS. The firm's revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts predict that Apollo Global Management Inc. will post 8.36 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's dividend payout ratio (DPR) is 36.96%.

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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