Formula Growth Ltd. Invests $1.63 Million in Apollo Global Management Inc. $APO

Formula Growth Ltd. acquired a new position in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,800 shares of the financial services provider’s stock, valued at approximately $1,633,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $29,000. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $36,000. Steigerwald Gordon & Koch Inc. grew its position in shares of Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 213 shares during the period. MBM Wealth Consultants LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter worth $29,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth $31,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on APO shares. Morgan Stanley decreased their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. UBS Group upped their price target on Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Barclays lifted 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. Finally, Piper Sandler cut their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $152.77.

Apollo Global Management Trading Down 0.2%

Shares of APO stock opened at $133.41 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $78.78 billion, a price-to-earnings ratio of 48.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The stock’s 50-day moving average price is $126.27 and its 200-day moving average price is $122.78.

Apollo Global Management (NYSE:APO) last announced its quarterly 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). The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $1.92 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be given 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 dividend payout ratio is currently 82.42%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the firm’s 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 completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.