Principal Financial Group Inc. Acquires 11,016 Shares of Apollo Global Management Inc. $APO

Principal Financial Group Inc. lifted its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 524,609 shares of the financial services provider’s stock after buying an additional 11,016 shares during the period. Principal Financial Group Inc.’s holdings in Apollo Global Management were worth $58,452,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners boosted its holdings in Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after purchasing an additional 1,692,532 shares in the last quarter. Focus Partners Wealth raised its holdings in Apollo Global Management by 2,560.3% during the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after buying an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Apollo Global Management by 271.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock valued at $148,255,000 after buying an additional 748,697 shares in the last quarter. Temasek Holdings Private Ltd lifted its position in shares of Apollo Global Management by 879.2% in the fourth quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock worth $109,055,000 after buying an additional 676,411 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Apollo Global Management by 5,321.9% in the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock worth $79,845,000 after buying an additional 541,397 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the company’s 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 completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

APO has been the topic of a number of analyst reports. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. The Goldman Sachs Group reduced their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. TD Cowen decreased their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Weiss Ratings downgraded Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Piper Sandler dropped their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Apollo Global Management Trading Down 2.3%

Shares of NYSE:APO opened at $120.51 on Friday. The company has a market cap of $69.48 billion, a P/E ratio of 76.76, a P/E/G ratio of 1.07 and a beta of 1.50. The stock’s 50-day moving average is $127.52 and its 200-day moving average is $125.06. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $156.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS 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 business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts predict that Apollo Global Management Inc. will post 8.23 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.9%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Apollo Global Management 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.