Formula Growth Ltd. Acquires New Position in Apollo Global Management Inc. $APO

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

Several other large investors have also bought and sold shares of APO. Coastal Bridge Advisors LLC bought a new position in shares of Apollo Global Management in the second quarter worth approximately $3,957,000. Public Employees Retirement System of Ohio bought a new stake in shares of Apollo Global Management during the second quarter valued at approximately $19,165,000. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Apollo Global Management during the second quarter valued at approximately $207,000. Proficio Capital Partners LLC purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $262,000. Finally, Pure Financial Advisors LLC purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $823,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. UBS Group lifted their target price on Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Piper Sandler decreased their price target 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. Barclays upped their price target on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. One equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.77.

Apollo Global Management Stock Down 0.2%

Shares of Apollo Global Management stock opened at $133.41 on Friday. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $126.27 and its 200 day moving average is $122.78. The company has a market cap 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 (NYSE:APO) last posted its 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 company 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 last year, the firm posted $1.92 EPS. Research analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS 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. Investors of record on Wednesday, August 19th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is presently 82.42%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is owned by insiders.

Apollo Global Management 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.