The Manufacturers Life Insurance Company Makes New Investment in Apollo Global Management Inc. $APO

The Manufacturers Life Insurance Company purchased 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 and Exchange Commission. The institutional investor purchased 259,862 shares of the financial services provider’s stock, valued at approximately $30,744,000.

A number of other hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of 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. Sandro Wealth Management LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at about $1,599,000. Louisiana State Employees Retirement System bought a new stake in Apollo Global Management in the 1st quarter worth approximately $2,641,000. State of New Jersey Common Pension Fund D boosted its stake in Apollo Global Management by 6.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 148,803 shares of the financial services provider’s stock worth $21,541,000 after buying an additional 9,055 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Apollo Global Management by 13.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider’s stock worth $9,773,000 after buying an additional 8,003 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated 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 directly owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. HSBC assumed coverage on shares of Apollo Global Management in a research note on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective for the company. Royal Bank Of Canada increased 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. Morgan Stanley decreased their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Finally, TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Stock Performance

Shares of APO stock opened at $133.41 on Friday. The company has a market capitalization of $78.78 billion, a P/E ratio of 48.87, a PEG ratio of 1.21 and a beta of 1.51. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a 50 day moving average price of $126.27 and a two-hundred day moving average price of $122.78.

Apollo Global Management (NYSE:APO) last issued its earnings results 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). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Announces Dividend

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

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.