NEOS Investment Management LLC Raises Stock Holdings in Apollo Global Management Inc. $APO

NEOS Investment Management LLC raised its stake in Apollo Global Management Inc. (NYSE:APO) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,028 shares of the financial services provider’s stock after buying an additional 8,289 shares during the quarter. NEOS Investment Management LLC’s holdings in Apollo Global Management were worth $8,877,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Legal & General Group Plc raised its holdings in shares of Apollo Global Management by 4.5% in the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after buying an additional 155,857 shares during the period. Louisiana State Employees Retirement System purchased a new position in Apollo Global Management during the 1st quarter valued at about $2,641,000. PNC Financial Services Group Inc. boosted its holdings in Apollo Global Management by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider’s stock valued at $9,773,000 after acquiring an additional 8,003 shares during the period. NewEdge Wealth LLC grew its position in Apollo Global Management by 11.2% in the 4th quarter. NewEdge Wealth LLC now owns 77,114 shares of the financial services provider’s stock valued at $11,163,000 after acquiring an additional 7,748 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Apollo Global Management by 7.1% in the 4th quarter. Hsbc Holdings PLC now owns 894,451 shares of the financial services provider’s stock valued at $129,786,000 after acquiring an additional 59,585 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $133.65 on Friday. The company has a market capitalization of $78.93 billion, a price-to-earnings ratio of 48.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. 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 stock has a 50 day moving average price of $127.03 and a 200 day moving average price of $123.05.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data 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). The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period in the previous year, the business posted $1.92 EPS. Research analysts predict that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APO. Royal Bank Of Canada increased their price target on shares of 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. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. Piper Sandler decreased their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. TD Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Finally, UBS Group increased their price objective on Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.15.

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.