Cinctive Capital Management LP Purchases New Holdings in Apollo Global Management Inc. $APO

Cinctive Capital Management LP purchased a new stake in Apollo Global Management Inc. (NYSE:APO) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 64,607 shares of the financial services provider’s stock, valued at approximately $9,353,000.

Several other institutional investors have also made changes to their positions in APO. Boston Partners boosted 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 buying an additional 1,692,532 shares during the period. Focus Partners Wealth boosted its stake in shares of Apollo Global Management by 2,560.3% in the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after buying an additional 1,351,778 shares during the period. Temasek Holdings Private Ltd grew its stake in Apollo Global Management by 879.2% during the fourth quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock worth $109,055,000 after buying an additional 676,411 shares in the last quarter. Bahl & Gaynor Inc. grew its stake in Apollo Global Management by 62.0% during the third quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider’s stock worth $132,834,000 after buying an additional 381,479 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after buying an additional 340,956 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. The Goldman Sachs Group decreased their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Barclays upped their target price on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

Insiders Place Their Bets

In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value 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 SEC, which is available at this hyperlink. 8.30% of the stock is owned by insiders.

Apollo Global Management Stock Up 0.2%

Shares of APO opened at $138.72 on Thursday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The stock has a market capitalization of $79.98 billion, a price-to-earnings ratio of 88.36, a PEG ratio of 1.19 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a fifty day moving average of $126.88 and a 200-day moving average of $128.12.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 EPS. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is currently 143.31%.

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.