Evolve Private Wealth LLC Makes New Investment in Apollo Global Management Inc. $APO

Evolve Private Wealth LLC purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,189 shares of the financial services provider’s stock, valued at approximately $496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $336,644,000. Boston Partners increased its position in shares of Apollo Global Management by 106.7% during the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after purchasing an additional 1,692,532 shares during the last quarter. Temasek Holdings Private Ltd increased its position in shares of Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after acquiring an additional 1,614,813 shares during the last quarter. Deutsche Bank AG purchased a new stake in Apollo Global Management in the second quarter valued at approximately $172,290,000. Finally, Focus Partners Wealth raised its holdings in shares of Apollo Global Management by 2,560.3% in the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after buying an additional 1,351,778 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE APO opened at $133.27 on Wednesday. The firm has a market cap of $78.70 billion, a P/E ratio of 48.82, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The business’s 50-day moving average price is $126.46 and its 200 day moving average price is $122.72. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last posted 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 company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period in the prior year, the company earned $1.92 earnings per share. On average, equities research analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company 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 $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s payout ratio is currently 82.42%.

Wall Street Analyst Weigh In

APO has been the topic of a number of research reports. Barclays increased their target price on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Piper Sandler decreased their target price on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, Royal Bank Of Canada upped their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.77.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

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.