Apollo Global Management, Inc. (NYSE:APO) Position Boosted by abrdn plc

abrdn plc raised its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 88.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,034 shares of the financial services provider’s stock after acquiring an additional 105,405 shares during the quarter. abrdn plc’s holdings in Apollo Global Management were worth $20,971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Perigon Wealth Management LLC lifted its holdings in shares of Apollo Global Management by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock valued at $254,000 after buying an additional 107 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Apollo Global Management by 23.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 674 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 128 shares during the last quarter. Golden State Equity Partners lifted its holdings in Apollo Global Management by 5.0% in the 3rd quarter. Golden State Equity Partners now owns 3,308 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 157 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Apollo Global Management by 3.4% in the 3rd quarter. Proficio Capital Partners LLC now owns 5,096 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 168 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in Apollo Global Management by 3.9% in the 4th quarter. Fulton Bank N.A. now owns 4,583 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $113.77 on Wednesday. The business’s 50-day simple moving average is $111.28 and its 200 day simple moving average is $98.88. The stock has a market cap of $64.64 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.90 and a beta of 1.63. Apollo Global Management, Inc. has a 12-month low of $57.50 and a 12-month high of $117.15. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. As a group, research analysts anticipate that Apollo Global Management, Inc. will post 7.44 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.45%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 14,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total value of $1,527,260.00. Following the sale, the chief financial officer now owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apollo Global Management news, CFO Martin Kelly sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 450,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the transaction, the insider now owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,426,000 shares of company stock worth $158,226,960. Insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APO shares. TD Cowen started coverage on Apollo Global Management in a report on Thursday, January 4th. They issued an “outperform” rating and a $115.00 target price for the company. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Barclays upped their price target on Apollo Global Management from $122.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. began coverage on Apollo Global Management in a report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 price target for the company. Finally, Wells Fargo & Company upped their target price on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.25.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.