Basswood Capital Management L.L.C. Invests $3 Million in Apollo Global Management Inc. $APO

Basswood Capital Management L.L.C. purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,343 shares of the financial services provider’s stock, valued at approximately $2,998,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APO. Geode Capital Management LLC increased its stake in 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 buying an additional 200,312 shares during the period. Northern Trust Corp lifted its stake in shares of Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock worth $643,982,000 after acquiring an additional 62,831 shares during the period. Legal & General Group Plc acquired a new stake in shares of Apollo Global Management in the 2nd quarter worth $459,987,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 3.1% in the fourth 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 acquiring an additional 98,945 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of 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 valued at $474,384,000 after acquiring an additional 1,692,532 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction 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 transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $133.64 on Thursday. The company has a 50-day simple moving average of $126.36 and a 200-day simple moving average of $122.78. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $78.92 billion, a PE ratio of 48.95, a P/E/G ratio of 1.20 and a beta of 1.51. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29.

Apollo Global Management (NYSE:APO) last announced 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 company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business earned $1.92 EPS. Equities research analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Analysts Set New Price Targets

APO has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada boosted their target price on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Piper Sandler cut their target price on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, BMO Capital Markets reduced their price target on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $152.77.

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.