Empyrean Capital Partners LP Takes $36.57 Million Position in Apollo Global Management Inc. $APO

Empyrean Capital Partners LP purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the 1st quarter, Holdings Channel reports. The fund purchased 328,200 shares of the financial services provider’s stock, valued at approximately $36,568,000. Apollo Global Management comprises about 1.2% of Empyrean Capital Partners LP’s holdings, making the stock its 24th largest position.

A number of other large investors have also modified their holdings of APO. Boston Partners boosted its stake in 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 valued at $474,384,000 after purchasing an additional 1,692,532 shares during the period. Temasek Holdings Private Ltd increased its stake in shares of Apollo Global Management by 214.4% in 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 purchasing an additional 1,614,813 shares during the period. Focus Partners Wealth increased its stake in shares of Apollo Global Management by 2,560.3% in the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after purchasing an additional 1,351,778 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Apollo Global Management by 271.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock valued at $148,255,000 after buying an additional 748,697 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Apollo Global Management by 5,321.9% during the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock valued at $79,845,000 after buying an additional 541,397 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Up 1.4%

Apollo Global Management stock opened at $124.32 on Tuesday. The firm has a 50 day simple moving average of $125.98 and a 200-day simple moving average of $123.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $71.68 billion, a PE ratio of 79.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8.19 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is 143.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APO. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Royal Bank Of Canada cut their target price on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. TD Cowen reduced their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. One 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. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $149.08.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by insiders.

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.