Meeder Advisory Services Inc. Acquires New Position in Apollo Global Management Inc. $APO

Meeder Advisory Services Inc. acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, HoldingsChannel.com reports. The firm acquired 9,467 shares of the financial services provider’s stock, valued at approximately $1,120,000.

Several other large investors have also bought and sold shares of APO. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after buying an additional 340,956 shares during the last quarter. Geode Capital Management LLC raised its holdings in Apollo Global Management by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp lifted its position in Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after acquiring an additional 62,831 shares in the last quarter. Legal & General Group Plc boosted its stake in Apollo Global Management by 4.5% during the 4th 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $475,985,000 after purchasing an additional 98,945 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

NYSE APO opened at $133.59 on Thursday. The business’s fifty day moving average price is $126.74 and its 200-day moving average price is $122.71. The stock has a market capitalization of $78.89 billion, a price-to-earnings ratio of 48.94, a PEG ratio of 1.20 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period in the previous year, the firm earned $1.92 EPS. On average, equities analysts predict that Apollo Global Management Inc. will post 8.12 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s payout ratio is currently 82.42%.

Insider Buying and Selling

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction dated 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 $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred 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 owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on APO shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Barclays increased their price objective on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Morgan Stanley reduced their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Apollo Global Management in a research note on Friday, August 7th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.77.

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.