Man Group plc Increases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Man Group plc increased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,591 shares of the financial services provider’s stock after acquiring an additional 6,578 shares during the quarter. Man Group plc’s holdings in Apollo Global Management were worth $9,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC boosted its position in Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares in the last quarter. Northern Trust Corp boosted its position in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after acquiring an additional 1,460,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock opened at $143.80 on Monday. The stock has a market capitalization of $82.04 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $132.95 and its 200 day simple moving average is $152.58. 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 announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. Apollo Global Management’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.42%. Apollo Global Management’s payout ratio is currently 35.73%.

Analyst Ratings Changes

APO has been the topic of several research reports. Bank of America lifted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. Raymond James began coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective on the stock. Barclays boosted their price target on Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Cowen reissued a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, UBS Group dropped their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.89.

Insider Buying and Selling at Apollo Global Management

In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.