Lakewood Capital Management LP Buys Shares of 227,197 Apollo Global Management Inc. $APO

Lakewood Capital Management LP acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 227,197 shares of the financial services provider’s stock, valued at approximately $26,880,000. Apollo Global Management comprises 1.4% of Lakewood Capital Management LP’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the fourth quarter worth about $29,000. MBM Wealth Consultants LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $29,000. 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. Keating Financial Advisory Services Inc. purchased a new position in shares of Apollo Global Management in the 2nd quarter worth approximately $31,000. Finally, Osbon Capital Management LLC bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $36,000. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on APO shares. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Barclays upped their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Morgan Stanley lowered their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Finally, Piper Sandler dropped their target price on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.77.

Apollo Global Management Trading Up 0.0%

Shares of NYSE:APO opened at $132.72 on Tuesday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The stock has a market cap of $78.38 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.20 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $126.57 and a 200-day moving average price of $122.72.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm earned $1.92 EPS. Equities analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

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

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the 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 sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Zito sold 48,644 shares of the firm’s 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 transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.30% of the company’s stock.

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.