Apollo Global Management Inc. $APO Shares Sold by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 60.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,639 shares of the financial services provider’s stock after selling 16,341 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Apollo Global Management were worth $1,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Apollo Global Management by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock valued at $669,372,000 after buying an additional 234,517 shares during the period. Legal & General Group Plc purchased a new stake in Apollo Global Management in the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp purchased a new stake in Apollo Global Management in the 2nd quarter worth approximately $336,644,000. Temasek Holdings Private Ltd lifted its position in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after buying an additional 1,614,813 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its stake in shares of Apollo Global Management by 91.8% during the 3rd quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after buying an additional 1,055,818 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Down 0.1%

Shares of APO opened at $114.21 on Wednesday. The firm’s 50 day moving average price is $123.30 and its 200 day moving average price is $124.01. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the business earned $1.92 EPS. As a group, equities analysts forecast that Apollo Global Management Inc. will post 7.96 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore boosted their price target on shares of Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. TD Cowen cut their price objective on Apollo Global Management from $159.00 to $154.00 and set a “buy” rating for the company in a report on Monday, October 12th. Bank of America reduced their price objective on Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. BMO Capital Markets lowered their target price on Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, UBS Group lowered their target price on Apollo Global Management from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.40.

Key Stories Impacting Apollo Global Management

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

• Positive Sentiment: Apollo disclosed a conditional commitment of approximately $40 billion to finance SpaceX’s acquisition or lease of AI computing equipment. The deal could expand Apollo’s private-credit and infrastructure-financing business, although funding is dependent on future equipment deliveries and transaction conditions. SpaceX Strikes $40 Billion Apollo Deal to Accelerate AI Expansion
• Positive Sentiment: Apollo is reportedly taking nearly a 10% stake in Mubadala Capital and committing about $5 billion. The strategic relationship with Abu Dhabi’s sovereign investment ecosystem could provide additional distribution, co-investment and asset-gathering opportunities. Apollo to buy nearly 10% stake in Mubadala Capital
• Neutral Sentiment: Apollo, Blackstone and TPG are reportedly discussing a potential acquisition of Universal Music Group. The talks could create a large investment opportunity and future fee-generating assets, but they are preliminary and could increase capital commitments or valuation risk. Market Chatter: Apollo Global Management, Blackstone and TPG Discuss Taking Universal Music Group Private
• Neutral Sentiment: Ares’ private-credit fund reportedly plans to buy a competitor from Apollo. The transaction may monetize an Apollo investment, but could also reduce assets under management or future fee income depending on the asset and deal structure. Ares private-credit fund to buy competitor from Apollo
• Negative Sentiment: With Apollo scheduled to report earnings next week, Zacks says the company lacks the usual combination of earnings and estimate-revision factors associated with a likely earnings beat. That raises the risk of cautious positioning ahead of results. Apollo Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: Apollo economist Torsten Slok said AI investment has produced little or no measurable profit improvement outside the largest technology companies. The warning could weigh on sentiment toward AI-related financing and highlights risks to the rapid growth assumptions behind deals such as the SpaceX transaction. AI Spending Hasn’t Improved Profits for Most Major Companies, Apollo Warns

About Apollo Global Management

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.