Element Pointe Advisors LLC Makes New Investment in Apollo Global Management Inc. $APO

Element Pointe Advisors LLC acquired a new stake in Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,988 shares of the financial services provider’s stock, valued at approximately $472,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock valued at $1,469,793,000 after purchasing an additional 200,312 shares during the last quarter. Northern Trust Corp raised its position in shares of Apollo Global Management by 1.4% in the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after purchasing an additional 62,831 shares during the period. Legal & General Group Plc raised its position in shares of Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after buying an additional 98,945 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APO. Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday. Piper Sandler dropped their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Royal Bank Of Canada boosted their price target on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. UBS Group upped their price objective on Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $152.77.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $133.91 on Wednesday. The firm has a 50 day moving average of $126.70 and a 200-day moving average of $122.72. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $79.08 billion, a PE ratio of 49.05, a PEG ratio of 1.26 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the business earned $1.92 earnings per share. On average, equities research analysts predict that Apollo Global Management Inc. will post 8.12 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.30% of the stock is currently owned by insiders.

About Apollo Global Management

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.