Next Capital Management LLC Grows Stake in Apollo Global Management Inc. $APO

Next Capital Management LLC increased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 1,142.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,863 shares of the financial services provider’s stock after purchasing an additional 20,104 shares during the period. Next Capital Management LLC’s holdings in Apollo Global Management were worth $2,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APO. Boston Partners boosted 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 buying an additional 1,692,532 shares during the last quarter. Focus Partners Wealth raised its holdings 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 lifted its position in shares of Apollo Global Management by 271.8% in 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 in the last quarter. Temasek Holdings Private Ltd lifted its position in shares of Apollo Global Management by 879.2% in 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 in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Apollo Global Management by 5,321.9% in the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock worth $79,845,000 after acquiring an additional 541,397 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John P. Zito sold 48,644 shares of the 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 completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on APO shares. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Barclays raised their price objective on Apollo Global Management from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group lifted their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley dropped their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Finally, Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.50.

Apollo Global Management Price Performance

Shares of APO stock opened at $120.51 on Friday. 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 market capitalization of $69.48 billion, a PE ratio of 76.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. The firm’s 50-day moving average is $127.52 and its two-hundred day moving average is $125.06. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $156.89.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 EPS. Analysts predict that Apollo Global Management Inc. will post 8.23 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s payout ratio is currently 143.31%.

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.