abrdn plc Acquires 105,405 Shares of Apollo Global Management, Inc. (NYSE:APO)

abrdn plc lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 88.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,034 shares of the financial services provider’s stock after purchasing an additional 105,405 shares during the period. abrdn plc’s holdings in Apollo Global Management were worth $20,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. FMR LLC boosted its position in shares of Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after purchasing an additional 1,584,201 shares in the last quarter. PointState Capital LP bought a new stake in shares of Apollo Global Management during the 3rd quarter valued at about $98,382,000. Westfield Capital Management Co. LP bought a new stake in shares of Apollo Global Management during the 3rd quarter valued at about $73,840,000. Keystone Investors PTE Ltd. bought a new stake in shares of Apollo Global Management during the 3rd quarter valued at about $54,355,000. Finally, Federated Hermes Inc. boosted its position in shares of Apollo Global Management by 45.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,351,609 shares of the financial services provider’s stock valued at $121,320,000 after purchasing an additional 423,538 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider James C. Zelter sold 150,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the completion of the sale, the insider now directly owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James C. Zelter sold 150,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total value of $16,374,000.00. Following the completion of the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,426,000 shares of company stock valued at $158,226,960. 8.70% of the stock is owned by insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $113.77 on Wednesday. The company has a market cap of $64.64 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. Apollo Global Management, Inc. has a 52 week low of $57.50 and a 52 week high of $117.15. The business has a 50 day moving average price of $111.28 and a 200-day moving average price of $98.88. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. Equities analysts anticipate that Apollo Global Management, Inc. will post 7.44 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s payout ratio is 20.45%.

Analysts Set New Price Targets

Several brokerages have issued reports on APO. Morgan Stanley increased their price target on Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Citigroup increased their price target on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. BMO Capital Markets increased their price target on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Barclays increased their price target on Apollo Global Management from $122.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company increased their price target on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.25.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.