3,887,979 Shares in Apollo Global Management Inc. $APO Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,887,979 shares of the financial services provider’s stock, valued at approximately $459,987,000.

Several other large investors also recently added to or reduced their stakes in APO. Sunbelt Securities Inc. boosted its position in shares of Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after buying an additional 82 shares during the period. Physician Wealth Advisors Inc. raised its position in Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after buying an additional 96 shares during the period. Glen Eagle Advisors LLC raised its position in Apollo Global Management by 33.3% during the fourth quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider’s stock valued at $56,000 after buying an additional 96 shares during the period. Kestra Investment Management LLC lifted its stake in Apollo Global Management by 2.1% in the 4th quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 99 shares in the last quarter. Finally, Ramirez Asset Management Inc. lifted its stake in Apollo Global Management by 25.0% in the 4th quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 100 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of APO stock opened at $133.27 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The stock’s 50-day moving average is $126.46 and its two-hundred day moving average is $122.72. The firm has a market cap of $78.70 billion, a P/E ratio of 48.82, a PEG ratio of 1.20 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on APO shares. Royal Bank Of Canada lifted their target price on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. BMO Capital Markets reduced their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research report on Monday, July 13th. Morgan Stanley decreased their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is currently owned by company insiders.

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.