National Pension Service Has $106.90 Million Position in Apollo Global Management Inc. $APO

National Pension Service reduced its position in Apollo Global Management Inc. (NYSE:APO) by 14.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 753,505 shares of the financial services provider’s stock after selling 126,768 shares during the quarter. National Pension Service’s holdings in Apollo Global Management were worth $106,900,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in APO. GW&K Investment Management LLC increased its stake in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Activest Wealth Management lifted its position in shares of Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after buying an additional 175 shares during the period. Rosenberg Matthew Hamilton boosted its stake in Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares in the last quarter. Andra AP fonden acquired a new position in Apollo Global Management during the second quarter worth $31,000. Finally, Bay Harbor Wealth Management LLC raised its stake in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $133.66 on Thursday. The company has a market capitalization of $76.46 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 1.42 and a beta of 1.63. The firm’s 50 day simple moving average is $130.80 and its 200 day simple moving average is $136.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.24. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APO shares. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Morgan Stanley decreased their price target on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Citigroup lowered their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.