Schwartz Investment Counsel Inc. Sells 16,341 Shares of Apollo Global Management Inc. $APO

Schwartz Investment Counsel Inc. lowered its holdings in Apollo Global Management Inc. (NYSE:APO) by 60.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,639 shares of the financial services provider’s stock after selling 16,341 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Apollo Global Management were worth $1,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc acquired a new stake in Apollo Global Management during the second quarter valued at approximately $459,987,000. Bank of New York Mellon Corp acquired a new position in Apollo Global Management in the second quarter worth approximately $336,644,000. Temasek Holdings Private Ltd increased its holdings in shares of Apollo Global Management by 214.4% in 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 in the last quarter. Deutsche Bank AG bought a new position in shares of Apollo Global Management in the second quarter valued at $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Apollo Global Management in the second quarter valued at $136,528,000. 77.06% of the stock is currently owned by institutional investors.

Key Headlines Impacting Apollo Global Management

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo disclosed a conditional commitment of approximately $40 billion to finance SpaceX’s acquisition or lease of AI computing equipment. The deal could expand Apollo’s private-credit and infrastructure-financing business, although funding is dependent on future equipment deliveries and transaction conditions. SpaceX Strikes $40 Billion Apollo Deal to Accelerate AI Expansion
• Positive Sentiment: Apollo is reportedly taking nearly a 10% stake in Mubadala Capital and committing about $5 billion. The strategic relationship with Abu Dhabi’s sovereign investment ecosystem could provide additional distribution, co-investment and asset-gathering opportunities. Apollo to buy nearly 10% stake in Mubadala Capital
• Neutral Sentiment: Apollo, Blackstone and TPG are reportedly discussing a potential acquisition of Universal Music Group. The talks could create a large investment opportunity and future fee-generating assets, but they are preliminary and could increase capital commitments or valuation risk. Market Chatter: Apollo Global Management, Blackstone and TPG Discuss Taking Universal Music Group Private
• Neutral Sentiment: Ares’ private-credit fund reportedly plans to buy a competitor from Apollo. The transaction may monetize an Apollo investment, but could also reduce assets under management or future fee income depending on the asset and deal structure. Ares private-credit fund to buy competitor from Apollo
• Negative Sentiment: With Apollo scheduled to report earnings next week, Zacks says the company lacks the usual combination of earnings and estimate-revision factors associated with a likely earnings beat. That raises the risk of cautious positioning ahead of results. Apollo Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: Apollo economist Torsten Slok said AI investment has produced little or no measurable profit improvement outside the largest technology companies. The warning could weigh on sentiment toward AI-related financing and highlights risks to the rapid growth assumptions behind deals such as the SpaceX transaction. AI Spending Hasn’t Improved Profits for Most Major Companies, Apollo Warns

Analysts Set New Price Targets

A number of brokerages have recently commented on APO. Jefferies Financial Group cut their price objective on Apollo Global Management from $138.00 to $127.00 and set a “hold” rating for the company in a research report on Tuesday, October 6th. Royal Bank Of Canada lifted their target price on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. The Goldman Sachs Group decreased their target price on Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Piper Sandler cut their target price on Apollo Global Management from $159.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, Wells Fargo & Company began coverage on Apollo Global Management in a report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.40.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $114.21 on Wednesday. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The firm’s 50 day simple moving average is $123.30 and its 200-day simple moving average is $124.01.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the business posted $1.92 EPS. On average, analysts forecast that Apollo Global Management Inc. will post 7.96 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.30% of the stock is currently owned by company insiders.

About Apollo Global Management

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.