Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Apollo Global Management Inc. (NYSE:APO)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Apollo Global Management Inc. (NYSE:APO) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,719 shares of the financial services provider’s stock after purchasing an additional 887 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Apollo Global Management were worth $6,535,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at about $25,000. Hopwood Financial Services Inc. bought a new position in Apollo Global Management during the fourth quarter valued at approximately $33,000. ORG Partners LLC raised its stake in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 171 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $45,000. Finally, Farmers & Merchants Investments Inc. purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at $39,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on APO. Raymond James Financial assumed coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price target for the company. Wells Fargo & Company increased their target price on Apollo Global Management from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. TD Cowen lowered their price objective on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Piper Sandler cut their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, UBS Group lowered their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.00.

Apollo Global Management Price Performance

APO opened at $142.83 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market cap of $81.63 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.59. The stock has a fifty day simple moving average of $135.68 and a two-hundred day simple moving average of $145.38. Apollo Global Management Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same quarter in the previous year, the business earned $1.72 earnings per share. The firm’s revenue was down 21.2% compared to the same quarter last year. Research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.51 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management’s payout ratio is currently 35.73%.

Insider Activity at Apollo Global Management

In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the purchase, the insider owned 621,754 shares of the company’s stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the transaction, the chief financial officer owned 373,164 shares of the company’s stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

About Apollo Global Management

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.