Hsbc Holdings PLC Raises Stock Holdings in Apollo Global Management Inc. $APO

Hsbc Holdings PLC boosted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 7.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 894,451 shares of the financial services provider’s stock after acquiring an additional 59,585 shares during the quarter. Hsbc Holdings PLC’s holdings in Apollo Global Management were worth $129,786,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its holdings in Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Apollo Global Management by 2,560.3% during the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after acquiring an additional 1,351,778 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Apollo Global Management by 271.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock valued at $148,255,000 after acquiring an additional 748,697 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of Apollo Global Management by 879.2% during the fourth quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock valued at $109,055,000 after acquiring an additional 676,411 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Apollo Global Management by 5,321.9% during the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock worth $79,845,000 after purchasing an additional 541,397 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $137.85 on Monday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The stock has a market capitalization of $79.47 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.18 and a beta of 1.50. The company’s 50-day moving average is $128.15 and its 200 day moving average is $128.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate 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 net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business posted $1.82 earnings per share. On average, sell-side analysts expect that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Analyst Upgrades and Downgrades

A number of research firms have commented on APO. The Goldman Sachs Group lowered their price target 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. Royal Bank Of Canada lifted their price objective on Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. UBS Group boosted their target price on Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Finally, BMO Capital Markets dropped their price target on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.23.

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 that occurred 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 sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.