Citizens Financial Group Inc. RI Invests $481,000 in Apollo Global Management Inc. $APO

Citizens Financial Group Inc. RI bought a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 4,069 shares of the financial services provider’s stock, valued at approximately $481,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at about $29,000. Osbon Capital Management LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth about $36,000. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. MBM Wealth Consultants LLC acquired a new position in shares of Apollo Global Management during the first quarter valued at about $29,000. Finally, Physician Wealth Advisors Inc. raised its position in shares of Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 3,000 shares of the 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 sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $133.59 on Thursday. The business’s 50 day moving average price is $126.74 and its 200 day moving average price is $122.71. The firm has a market cap of $78.89 billion, a P/E ratio of 48.94, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. 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 (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the company posted $1.92 EPS. On average, sell-side analysts expect that Apollo Global Management Inc. will post 8.12 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APO shares. Morgan Stanley lowered their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. UBS Group raised their price target on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Barclays raised their price target on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Finally, Piper Sandler dropped their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $152.77.

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.