Freestone Grove Partners LP Makes New Investment in Apollo Global Management Inc. $APO

Freestone Grove Partners LP bought a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 573,503 shares of the financial services provider’s stock, valued at approximately $67,851,000.

Several other hedge funds have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $29,000. Osbon Capital Management LLC purchased a new position in Apollo Global Management in the fourth quarter worth $36,000. Steigerwald Gordon & Koch Inc. raised its position in Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. MBM Wealth Consultants LLC acquired a new stake in Apollo Global Management in the first quarter valued at $29,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Apollo Global Management in the second quarter valued at $31,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Up 0.3%

Shares of APO stock opened at $133.64 on Thursday. The stock has a market cap of $78.92 billion, a P/E ratio of 48.95, a P/E/G ratio of 1.20 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The business has a fifty day simple moving average of $126.36 and a 200-day simple moving average of $122.78.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same quarter in the prior year, the firm earned $1.92 earnings per share. On average, analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management’s payout ratio is presently 82.42%.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

APO has been the topic of a number of recent analyst reports. BMO Capital Markets lowered 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 note on Monday, July 13th. Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Royal Bank Of Canada upped their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. Finally, Piper Sandler reduced their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

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.