Huntington National Bank Acquires 3,935 Shares of Apollo Global Management Inc. $APO

Huntington National Bank raised its holdings in Apollo Global Management Inc. (NYSE:APO) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,593 shares of the financial services provider’s stock after purchasing an additional 3,935 shares during the quarter. Huntington National Bank’s holdings in Apollo Global Management were worth $6,021,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of APO. Chesapeake Asset Management LLC lifted its holdings in Apollo Global Management by 3.6% during the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock worth $299,000 after buying an additional 72 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider’s stock worth $740,000 after buying an additional 78 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in shares of Apollo Global Management by 0.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 80 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Apollo Global Management by 16.9% during the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 82 shares during the last quarter. Finally, United Advisor Group LLC raised its position in shares of Apollo Global Management by 4.7% during the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 2.1%

Shares of Apollo Global Management stock opened at $127.55 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The business has a fifty day simple moving average of $120.79 and a 200 day simple moving average of $127.92. The stock has a market cap of $73.54 billion, a PE ratio of 81.24, a price-to-earnings-growth ratio of 1.12 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts predict that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, May 19th. Apollo Global Management’s payout ratio is presently 143.31%.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is currently owned by company insiders.

Key Headlines Impacting Apollo Global Management

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo is expanding its private-equity activity by backing Apex Service Partners, a home-services platform, in a deal that values the company around $10 billion. That kind of large investment activity can support fee-generating growth for Apollo. Apex Service sells minority stake to Apollo at $10 bln valuation, source says
• Positive Sentiment: Apollo also appears to be pursuing a major financing role tied to Anthropic’s AI infrastructure needs, with reports that it is shopping a large debt package to help fund AI chip purchases. That suggests Apollo may capture another sizable origination fee opportunity. Apollo Shops $36 Billion Debt to Buy AI Chips for Anthropic (1)
• Neutral Sentiment: Management’s presentation at Bernstein’s strategic decisions conference is drawing attention, but the transcript itself does not appear to contain a clear new catalyst yet. Apollo Global Management, Inc. (APO) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: An insider sale by John P. Zito was disclosed, but the executive still retains a very large position, so the transaction may be read as routine rather than a major red flag. SEC Form 4 filing
• Negative Sentiment: Apollo’s president said wealthy investors are still trying to withdraw money from some U.S. private credit funds, pointing to ongoing outflows that could weigh on sentiment around the firm’s private credit business. Apollo’s president sees continued withdrawals from US private credit funds for the wealthy

Analyst Upgrades and Downgrades

APO has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Evercore restated an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Weiss Ratings downgraded Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group dropped their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. dropped their target price on Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $151.23.

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.