Corient Private Wealth LP Makes New $27.93 Million Investment in Apollo Global Management Inc. $APO

Corient Private Wealth LP purchased a new stake in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 236,058 shares of the financial services provider’s stock, valued at approximately $27,928,000.

Other institutional investors also recently modified their holdings of the company. Punch & Associates Investment Management Inc. bought a new stake in shares of Apollo Global Management during the 2nd quarter worth $11,611,000. Bamco Inc. NY bought a new position in shares of Apollo Global Management in the second quarter worth about $13,002,000. Basswood Capital Management L.L.C. acquired a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $2,998,000. Freestone Grove Partners LP bought a new stake in shares of Apollo Global Management during the 2nd quarter valued at approximately $67,851,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Apollo Global Management during the 2nd quarter worth approximately $935,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 0.2%

APO opened at $133.41 on Friday. 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 company’s 50 day moving average price is $126.27 and its two-hundred day moving average price is $122.78. The firm has a market capitalization of $78.78 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 1.21 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the firm posted $1.92 EPS. As a group, research analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management 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 completion of the transaction, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on APO. Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. BMO Capital Markets lowered 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 report on Monday, July 13th. Morgan Stanley dropped their price target on 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. Piper Sandler dropped their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $152.77.

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.