Meeder Advisory Services Inc. Purchases New Position in Apollo Global Management Inc. $APO

Meeder Advisory Services Inc. purchased a new stake in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,467 shares of the financial services provider’s stock, valued at approximately $1,120,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Citizens Financial Group Inc. RI bought a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $481,000. Banco BTG Pactual S.A. bought a new position in shares of Apollo Global Management during the second quarter valued at approximately $292,000. MidFirst Bank bought a new position in shares of Apollo Global Management during the second quarter valued at approximately $1,757,000. Pallas Capital Advisors LLC purchased a new stake in Apollo Global Management in the second quarter worth $218,000. Finally, Performance Wealth Partners LLC bought a new stake in Apollo Global Management in the second quarter valued at $655,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO stock opened at $133.59 on Thursday. The business’s fifty day moving average is $126.74 and its 200 day moving average is $122.71. 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 stock has a market cap of $78.89 billion, a price-to-earnings ratio of 48.94, a PEG ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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 net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the business posted $1.92 EPS. Research analysts expect that Apollo Global Management Inc. will post 8.12 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is 82.42%.

Insider Activity

In related news, CFO Martin Kelly sold 3,000 shares of the business’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 sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $400,302,519.36. This represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

APO has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Apollo Global Management in a research report on Friday, August 7th. Barclays raised their target price on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Sandler decreased their price target on shares of 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 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 MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

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.