RDST Capital LLC Purchases 30,875 Shares of Apollo Global Management Inc. $APO

RDST Capital LLC increased its position in Apollo Global Management Inc. (NYSE:APO) by 17.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 210,405 shares of the financial services provider’s stock after purchasing an additional 30,875 shares during the period. Apollo Global Management accounts for 2.3% of RDST Capital LLC’s investment portfolio, making the stock its 19th largest holding. RDST Capital LLC’s holdings in Apollo Global Management were worth $23,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. Sunbelt Securities Inc. grew its holdings in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after buying an additional 82 shares in the last quarter. United Advisor Group LLC boosted its position in shares of Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 87 shares during the last quarter. Broadway Wealth Solutions Inc. boosted its position in shares of Apollo Global Management by 3.8% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 87 shares during the last quarter. First Horizon Corp grew its holdings in shares of Apollo Global Management by 8.1% in the fourth quarter. First Horizon Corp now owns 1,228 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 92 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its position in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APO shares. Wall Street Zen downgraded shares of Apollo Global Management from a “sell” rating to a “strong sell” rating in a research note on Saturday. Morgan Stanley reduced their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. UBS Group increased their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Barclays boosted their price objective on Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Stock Up 0.4%

NYSE APO opened at $124.80 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The firm has a market capitalization of $71.95 billion, a price-to-earnings ratio of 79.49, a PEG ratio of 1.08 and a beta of 1.50. The company has a fifty day moving average of $125.85 and a two-hundred day moving average of $123.62.

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

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were 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 was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Insider Activity

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 transaction, the insider owned 3,063,696 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by company insiders.

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.