Nippon Life Global Investors Americas Inc. Acquires New Shares in Apollo Global Management Inc. $APO

Nippon Life Global Investors Americas Inc. acquired a new position in Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 25,590 shares of the financial services provider’s stock, valued at approximately $3,028,000.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $336,644,000. Boston Partners grew its stake in shares of Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the period. Temasek Holdings Private Ltd grew 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 worth $263,861,000 after acquiring an additional 1,614,813 shares during the period. Focus Partners Wealth raised its holdings in shares of Apollo Global Management by 2,560.3% during 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 last quarter. Finally, 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 purchasing an additional 748,697 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Apollo Global Management from a “sell” rating to a “strong sell” rating in a report on Monday, August 10th. Royal Bank Of Canada boosted their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Apollo Global Management in a report on Friday, August 7th. Finally, Morgan Stanley dropped their price target on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.77.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $140.69 on Monday. 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 capitalization of $83.08 billion, a PE ratio of 51.54, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. The firm’s 50 day moving average price is $126.53 and its 200-day moving average price is $122.69. 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 earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (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 business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm posted $1.92 earnings per share. Equities research analysts expect that Apollo Global Management Inc. will post 8.12 EPS for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.