Apollo Global Management Inc. $APO Stock Position Boosted by Heard Capital LLC

Heard Capital LLC grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,512,015 shares of the financial services provider’s stock after purchasing an additional 53,320 shares during the quarter. Apollo Global Management makes up about 10.3% of Heard Capital LLC’s portfolio, making the stock its 4th biggest holding. Heard Capital LLC’s holdings in Apollo Global Management were worth $218,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Waterway Wealth Management LLC purchased a new position in shares of Apollo Global Management in the 4th quarter valued at $1,167,000. Temasek Holdings Private Ltd increased its stake in Apollo Global Management by 879.2% during the 4th quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock worth $109,055,000 after buying an additional 676,411 shares during the period. Rakuten Investment Management Inc. increased its stake in Apollo Global Management by 139.0% during the 4th quarter. Rakuten Investment Management Inc. now owns 59,888 shares of the financial services provider’s stock worth $8,820,000 after buying an additional 34,828 shares during the period. Clearview Wealth Advisors LLC increased its stake in Apollo Global Management by 8.7% during the 4th quarter. Clearview Wealth Advisors LLC now owns 26,866 shares of the financial services provider’s stock worth $3,889,000 after buying an additional 2,161 shares during the period. Finally, L2 Asset Management LLC increased its stake in Apollo Global Management by 8.8% during the 4th quarter. L2 Asset Management LLC now owns 2,026 shares of the financial services provider’s stock worth $293,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APO shares. UBS Group lifted their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Argus raised shares of Apollo Global Management to a “strong-buy” rating in a research note on Thursday, February 19th. The Goldman Sachs Group dropped their price target on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. TD Cowen dropped their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Weiss Ratings downgraded shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.23.

Apollo Global Management Price Performance

Shares of APO stock opened at $138.41 on Wednesday. The firm has a market cap of $79.80 billion, a P/E ratio of 88.16, a P/E/G ratio of 1.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28. The firm has a fifty day moving average of $126.23 and a two-hundred day moving average of $128.06.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business earned $1.82 EPS. As a group, research analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.6%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the firm’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 transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

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.