Legato Capital Management LLC Buys New Shares in Apollo Global Management Inc. $APO

Legato Capital Management LLC bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,215 shares of the financial services provider’s stock, valued at approximately $900,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after purchasing an additional 340,956 shares in the last quarter. Northern Trust Corp lifted its position in Apollo Global Management by 7.3% during the third quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock valued at $584,494,000 after purchasing an additional 299,698 shares in the last quarter. Legal & General Group Plc lifted its position in Apollo Global Management by 5.7% during the third quarter. Legal & General Group Plc now owns 3,455,982 shares of the financial services provider’s stock valued at $460,579,000 after purchasing an additional 186,292 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Apollo Global Management by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock valued at $326,716,000 after purchasing an additional 48,053 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Apollo Global Management by 31.1% during the third quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock valued at $215,530,000 after purchasing an additional 383,198 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

Several equities analysts recently weighed in on APO shares. BMO Capital Markets lowered their target price on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. Morgan Stanley lowered their price objective on 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. Royal Bank Of Canada boosted their price objective on Apollo Global Management from $139.00 to $146.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Argus upgraded Apollo Global Management to a “strong-buy” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

Apollo Global Management Trading Down 0.0%

Shares of NYSE APO opened at $128.50 on Tuesday. The business’s 50 day moving average is $119.37 and its two-hundred day moving average is $127.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28. The stock has a market capitalization of $74.08 billion, a P/E ratio of 81.85, a PEG ratio of 1.08 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts expect that Apollo Global Management Inc. will post 8.29 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

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.