Odyssean LLC Acquires New Holdings in Apollo Global Management Inc. $APO

Odyssean LLC bought a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,205 shares of the financial services provider’s stock, valued at approximately $2,627,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APO. Geode Capital Management LLC lifted its stake in shares of Apollo Global Management by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock valued at $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Apollo Global Management by 1.4% during the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock worth $643,982,000 after purchasing an additional 62,831 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Apollo Global Management in the second quarter valued at approximately $459,987,000. Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock valued at $475,985,000 after buying an additional 98,945 shares during the last quarter. Finally, Boston Partners raised its holdings in Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after buying an additional 1,692,532 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. HSBC started coverage on Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective for the company. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $152.77.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 3,000 shares of the firm’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 completion of the sale, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

APO stock opened at $133.27 on Wednesday. The firm has a market cap of $78.70 billion, a price-to-earnings ratio of 48.82, a PEG ratio of 1.20 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company’s fifty day simple moving average is $126.46 and its 200 day simple moving average is $122.72.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. On average, analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio is presently 82.42%.

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.