Punch & Associates Investment Management Inc. Raises Stock Position in Apollo Global Management Inc. $APO

Punch & Associates Investment Management Inc. increased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 17.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,835 shares of the financial services provider’s stock after acquiring an additional 14,196 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Apollo Global Management were worth $10,901,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after purchasing an additional 340,956 shares during the period. Geode Capital Management LLC grew its position in Apollo Global Management by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock valued at $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock worth $643,982,000 after acquiring an additional 62,831 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Apollo Global Management by 4.5% in the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after acquiring an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock valued at $475,985,000 after purchasing an additional 98,945 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APO has been the topic of several recent research reports. TD Cowen reduced their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, May 18th. The Goldman Sachs Group cut their price target on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Morgan Stanley reduced their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank Of Canada decreased their price objective on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Price Performance

APO stock opened at $122.53 on Friday. The firm has a 50-day moving average of $126.18 and a 200 day moving average of $124.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $70.64 billion, a P/E ratio of 78.04, a PEG ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.29.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 8.19 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors 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 positive change from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.8%. Apollo Global Management’s payout ratio is currently 143.31%.

Insider Transactions at Apollo Global Management

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 stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.30% of the company’s stock.

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.