Empowered Funds LLC Invests $4.34 Million in Apollo Global Management Inc. $APO

Empowered Funds LLC acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 36,692 shares of the financial services provider’s stock, valued at approximately $4,341,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in Apollo Global Management in the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp purchased a new position in Apollo Global Management during the second quarter valued at approximately $336,644,000. Boston Partners lifted its holdings in Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after purchasing an additional 1,692,532 shares in the last quarter. Temasek Holdings Private Ltd boosted its position 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 worth $263,861,000 after purchasing an additional 1,614,813 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Apollo Global Management in the second quarter worth approximately $172,290,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. UBS Group increased their price target on Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Piper Sandler decreased their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Finally, HSBC started coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Apollo Global Management Stock Performance

NYSE:APO opened at $136.99 on Tuesday. The company has a market cap of $80.90 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 1.22 and a beta of 1.51. The stock’s 50 day simple moving average is $126.26 and its two-hundred day simple moving average is $122.82. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. 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 released its quarterly earnings data 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). 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 the consensus estimate of $5.65 billion. During the same quarter last year, the business earned $1.92 EPS. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were issued a $0.5625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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.