RDST Capital LLC Increases Position in Apollo Global Management Inc. $APO

RDST Capital LLC grew its position in shares of Apollo Global Management Inc. (NYSE:APO) by 17.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,405 shares of the financial services provider’s stock after purchasing an additional 30,875 shares during the quarter. Apollo Global Management makes up about 2.3% of RDST Capital LLC’s investment portfolio, making the stock its 19th largest position. RDST Capital LLC’s holdings in Apollo Global Management were worth $23,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management during the fourth quarter valued at about $29,000. Osbon Capital Management LLC purchased a new stake in Apollo Global Management in the 4th quarter worth approximately $36,000. Steigerwald Gordon & Koch Inc. grew its position in shares of Apollo Global Management by 484.1% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after buying an additional 213 shares during the last quarter. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management during the 1st quarter valued at $29,000. Finally, Physician Wealth Advisors Inc. raised its stake in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after buying an additional 96 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO opened at $124.80 on Wednesday. The firm has a market cap of $71.95 billion, a P/E ratio of 79.49, a PEG ratio of 1.08 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50 day simple moving average of $125.85 and a two-hundred day simple moving average of $123.62. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 EPS. Equities analysts forecast that Apollo Global Management Inc. will post 8.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on APO. Keefe, Bruyette & Woods upgraded Apollo Global Management to a “hold” rating in a report on Monday, July 20th. TD Cowen dropped 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 research note on Monday, May 18th. Wall Street Zen downgraded Apollo Global Management from a “sell” rating to a “strong sell” rating in a research note on Saturday. Piper Sandler dropped their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Finally, The Goldman Sachs Group decreased their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Company 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.