Wolf Hill Capital Management LP Purchases New Shares in Apollo Global Management Inc. $APO

Key Points

• Wolf Hill Capital Management acquired 297,232 Apollo Global Management shares worth approximately $35.2 million, making APO about 2.9% of its portfolio and its 11th-largest holding. Institutional investors collectively own 77.06% of the company.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also fell short of forecasts. Shares opened at $132.72, compared with a consensus analyst price target of $152.77 and a “Moderate Buy” rating.
• Apollo declared a quarterly dividend of $0.5625, equivalent to $2.25 annually and a 1.7% yield. Recent analyst actions were broadly positive, with UBS raising its price target to $172 and Barclays increasing its target to $157.

Wolf Hill Capital Management LP acquired a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 297,232 shares of the financial services provider's stock, valued at approximately $35,165,518,000. Apollo Global Management makes up about 2.9% of Wolf Hill Capital Management LP's holdings, making the stock its 11th biggest position. Wolf Hill Capital Management LP owned 0.05% of Apollo Global Management at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Apollo Global Management during the second quarter worth $336,644,000. Boston Partners grew its stake in shares of Apollo Global Management by 106.7% in the fourth 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 position in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after acquiring an additional 1,614,813 shares during the period. Deutsche Bank AG bought a new position in Apollo Global Management during the second quarter worth about $172,290,000. Finally, Focus Partners Wealth raised its stake in Apollo Global Management by 2,560.3% in 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. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 0.0%

Shares of Apollo Global Management stock opened at $132.72 on Tuesday. 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 Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a market capitalization of $78.38 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.20 and a beta of 1.51. The firm's 50-day moving average price is $126.57 and its two-hundred day moving average price is $122.72.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its 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 firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is 82.42%.

Analyst Ratings Changes

APO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Weiss Ratings raised shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. HSBC began coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They issued a "buy" rating and a $145.00 price target for the company. Barclays boosted their price target on Apollo Global Management from $132.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, UBS Group raised their price objective on Apollo Global Management from $157.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.77.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the firm'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 directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The SEC filing for this sale provides additional information. 8.30% of the stock is owned by insiders.

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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