Lakewood Capital Management LP Purchases Shares of 227,197 Apollo Global Management Inc. $APO

Lakewood Capital Management LP acquired a new position in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, HoldingsChannel reports. The fund acquired 227,197 shares of the financial services provider’s stock, valued at approximately $26,880,000. Apollo Global Management accounts for approximately 1.4% of Lakewood Capital Management LP’s holdings, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $29,000. Osbon Capital Management LLC purchased a new stake in Apollo Global Management during the fourth quarter worth $36,000. Steigerwald Gordon & Koch Inc. grew its position in Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after buying an additional 213 shares during the period. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management in the first quarter valued at $29,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Apollo Global Management in the second quarter valued at $31,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APO shares. Barclays raised their target price on Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Piper Sandler reduced their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, July 13th. BMO Capital Markets dropped their price objective on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Morgan Stanley cut their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Apollo Global Management Stock Performance

APO opened at $132.72 on Tuesday. The firm has a market capitalization of $78.38 billion, a PE ratio of 48.62, a PEG ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The firm’s 50-day moving average price is $126.57 and its 200 day moving average price is $122.72. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the company posted $1.92 EPS. As a group, sell-side analysts expect that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were 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 approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.