Callodine Capital Management LP Acquires Shares of 80,307 Apollo Global Management Inc. $APO

Callodine Capital Management LP purchased a new position in Apollo Global Management Inc. (NYSE:APO) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 80,307 shares of the financial services provider’s stock, valued at approximately $10,997,000. Apollo Global Management accounts for 1.8% of Callodine Capital Management LP’s investment portfolio, making the stock its 21st largest holding.

Other institutional investors have also recently modified their holdings of the company. Pinebridge Investments L.P. bought a new position in Apollo Global Management in the fourth quarter valued at about $810,000. Integrated Wealth Concepts LLC lifted its holdings in Apollo Global Management by 33.1% in the fourth quarter. Integrated Wealth Concepts LLC now owns 3,369 shares of the financial services provider’s stock valued at $556,000 after acquiring an additional 837 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Apollo Global Management by 10.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,852 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 265 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Apollo Global Management in the fourth quarter valued at about $903,000. Finally, Berger Financial Group Inc bought a new position in Apollo Global Management in the fourth quarter valued at about $224,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $134.47 on Wednesday. The stock’s fifty day moving average is $142.95 and its two-hundred day moving average is $138.90. The company has a market capitalization of $76.92 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.62. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter in the prior year, the company posted $1.64 EPS. As a group, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management’s dividend payout ratio is presently 38.13%.

Analyst Ratings Changes

APO has been the topic of several recent research reports. Evercore ISI raised their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. UBS Group reduced their price objective on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Barclays upped their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Piper Sandler decreased their price objective on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $164.56.

Apollo Global Management Profile

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.