Highland Capital Management LLC Makes New Investment in Apollo Global Management Inc. $APO

Highland Capital Management LLC purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 35,450 shares of the financial services provider’s stock, valued at approximately $5,132,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp lifted its position in Apollo Global Management by 99.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock worth $27,000 after buying an additional 99 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in Apollo Global Management by 1,123.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 208 shares of the financial services provider’s stock worth $28,000 after buying an additional 191 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management during the 4th quarter worth about $29,000. Physician Wealth Advisors Inc. lifted its position in Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after buying an additional 96 shares in the last quarter. Finally, City Holding Co. lifted its position in Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after buying an additional 243 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 0.9%

Shares of Apollo Global Management stock opened at $129.28 on Tuesday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28. The firm’s 50-day moving average price is $112.94 and its two-hundred day moving average price is $127.29. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $74.76 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 1.17 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last released its earnings results on Monday, February 9th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.43. The business had revenue of $9.86 billion for the quarter, compared to analyst estimates of $1.19 billion. Apollo Global Management had a net margin of 10.90% and a return on equity of 15.25%. Apollo Global Management’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.39 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8.44 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Thursday, February 19th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $2.04 annualized dividend and a yield of 1.6%. Apollo Global Management’s dividend payout ratio is currently 36.96%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets cut their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. JPMorgan Chase & Co. cut their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. The Goldman Sachs Group cut their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Tuesday, February 10th. Finally, Piper Sandler cut their price objective on shares of Apollo Global Management from $165.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.42.

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.