Royal London Asset Management Ltd. Trims Position in Apollo Global Management Inc. $APO

Royal London Asset Management Ltd. decreased its position in Apollo Global Management Inc. (NYSE:APO) by 2.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 284,132 shares of the financial services provider’s stock after selling 5,738 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Apollo Global Management were worth $33,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of APO. Legal & General Group Plc purchased a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $459,987,000. Bank of New York Mellon Corp purchased a new position in shares of Apollo Global Management in the second quarter worth approximately $336,644,000. Boston Partners boosted its holdings 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 buying an additional 1,692,532 shares during the last quarter. Temasek Holdings Private Ltd grew its position in Apollo Global Management by 214.4% during 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 buying an additional 1,614,813 shares during the period. Finally, Deutsche Bank AG bought a new stake in Apollo Global Management during the second quarter valued at approximately $172,290,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BMO Capital Markets decreased their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research report on Monday, July 13th. Barclays boosted their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Morgan Stanley reduced their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their price target on Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. 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. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $152.77.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $135.39 on Friday. The stock has a market cap of $79.95 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29. The firm has a fifty day moving average price of $126.22 and a 200-day moving average price of $122.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the firm posted $1.92 EPS. Equities analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be given a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s payout ratio is presently 82.42%.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The stock was 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 approximately $55,847,707.72. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management 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.