Forum Financial Management LP Boosts Stake in Apollo Global Management Inc. $APO

Forum Financial Management LP raised its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 276.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,903 shares of the financial services provider’s stock after buying an additional 16,086 shares during the period. Forum Financial Management LP’s holdings in Apollo Global Management were worth $2,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of APO. North Star Investment Management Corp. raised its holdings in shares of Apollo Global Management by 63.6% in the first quarter. North Star Investment Management Corp. now owns 3,387 shares of the financial services provider’s stock worth $377,000 after buying an additional 1,317 shares during the period. Pinnacle Bancorp Inc. lifted its stake in shares of Apollo Global Management by 14.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 924 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 117 shares during the last quarter. Patton Fund Management Inc. boosted its holdings in Apollo Global Management by 11.2% during the 1st quarter. Patton Fund Management Inc. now owns 1,836 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 185 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Apollo Global Management by 17.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 231,810 shares of the financial services provider’s stock valued at $25,828,000 after acquiring an additional 33,881 shares during the period. Finally, Border to Coast Pensions Partnership Ltd grew its position in Apollo Global Management by 25.0% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 225,000 shares of the financial services provider’s stock valued at $25,146,000 after acquiring an additional 45,000 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were 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 in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group increased their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. BMO Capital Markets cut their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Finally, Piper Sandler lifted their price objective on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

Apollo Global Management Trading Down 2.8%

APO opened at $115.03 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $129.48 and its two-hundred day moving average is $127.66. The company has a market capitalization of $66.32 billion, a P/E ratio of 73.27, a PEG ratio of 1.02 and a beta of 1.50. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping 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 return on equity of 14.43% and a net margin of 3.62%.The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS. Analysts forecast that Apollo Global Management Inc. will post 8.28 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 paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s payout ratio is currently 143.31%.

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.