Zurcher Kantonalbank Zurich Cantonalbank Has $25.11 Million Stake in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apollo Global Management by 15.2%, acquiring an additional 24,213 shares, bringing its total to 183,384 shares valued at approximately $25.1 million.
• Apollo Global Management reported a quarterly earnings miss of $1.82 per share, falling short of the consensus estimate of $1.84, with revenue decreasing by 21.2% year over year.
• The company increased its quarterly dividend to $0.51 per share from $0.46, representing an annualized dividend of $2.04 and a yield of 1.38%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,384 shares of the financial services provider's stock after acquiring an additional 24,213 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Apollo Global Management were worth $25,113,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares during the last quarter. Principal Financial Group Inc. raised its stake in Apollo Global Management by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock valued at $75,347,000 after acquiring an additional 7,441 shares in the last quarter. Blue Whale Capital LLP bought a new stake in Apollo Global Management during the 4th quarter valued at $47,400,000. Clearview Wealth Advisors LLC raised its stake in Apollo Global Management by 420.7% during the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after acquiring an additional 17,418 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Apollo Global Management by 209.0% during the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after acquiring an additional 110,014 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Apollo Global Management stock traded down $8.31 during midday trading on Friday, reaching $137.01. 2,529,121 shares of the company's stock were exchanged, compared to its average volume of 3,599,929. Apollo Global Management Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market cap of $78.30 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 1.64 and a beta of 1.59. The stock's 50-day simple moving average is $140.48 and its 200 day simple moving average is $142.54.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company's revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 EPS. On average, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on APO. TD Cowen cut their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler dropped their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. UBS Group decreased their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, Barclays lifted their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $161.00.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer directly owned 373,164 shares in the company, valued at $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

Apollo Global Management Company 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.