ProShare Advisors LLC Boosts Holdings in Apollo Global Management Inc. $APO

ProShare Advisors LLC raised its position in Apollo Global Management Inc. (NYSE:APO) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 111,750 shares of the financial services provider’s stock after buying an additional 5,874 shares during the quarter. ProShare Advisors LLC’s holdings in Apollo Global Management were worth $16,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Schnieders Capital Management LLC. purchased a new position in Apollo Global Management during the second quarter worth about $7,954,000. Baird Financial Group Inc. raised its holdings in shares of Apollo Global Management by 117.5% in the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock valued at $2,287,000 after acquiring an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after acquiring an additional 305 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $722,000. Finally, Northern Right Capital Management L.P. grew its holdings in shares of Apollo Global Management by 1.5% during the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock worth $24,542,000 after purchasing an additional 2,500 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $132.31 on Thursday. The company has a market capitalization of $76.28 billion, a price-to-earnings ratio of 84.28, a PEG ratio of 1.10 and a beta of 1.52. The business has a 50 day moving average of $117.91 and a 200 day moving average of $127.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28.

Apollo Global Management (NYSE:APO) last issued 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 business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the business earned $1.82 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8.32 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be issued a dividend of $0.5625 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is 143.31%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on APO shares. Barclays upped their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. TD Cowen decreased their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group lowered their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given 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 $150.38.

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.