Assenagon Asset Management S.A. Buys 54,486 Shares of Apollo Global Management Inc. $APO

Assenagon Asset Management S.A. lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 438.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,923 shares of the financial services provider’s stock after purchasing an additional 54,486 shares during the period. Assenagon Asset Management S.A.’s holdings in Apollo Global Management were worth $7,457,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter valued at $29,000. Osbon Capital Management LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at $36,000. Physician Wealth Advisors Inc. raised its position in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Apollo Global Management during the fourth quarter worth $42,000. Finally, City Holding Co. lifted its stake in shares of Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 243 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $118.66 on Monday. The firm has a market capitalization of $68.41 billion, a P/E ratio of 75.58, a PEG ratio of 1.02 and a beta of 1.50. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The business has a 50-day moving average of $129.59 and a 200-day moving average of $127.86. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.9%. Apollo Global Management’s payout ratio is currently 143.31%.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on APO shares. The Goldman Sachs Group decreased their price target on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley cut their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Piper Sandler raised their target price on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Finally, Barclays boosted their price target on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $151.23.

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.