DSM Capital Partners LLC Boosts Position in Apollo Global Management, Inc. (NYSE:APO)

DSM Capital Partners LLC lifted its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 53.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,664 shares of the financial services provider’s stock after buying an additional 3,370 shares during the quarter. DSM Capital Partners LLC’s holdings in Apollo Global Management were worth $1,141,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $33,000. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management in the 2nd quarter worth $35,000. Carolinas Wealth Consulting LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter worth $38,000. J.Safra Asset Management Corp boosted its position in Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 305 shares in the last quarter. Finally, Riverview Trust Co bought a new position in Apollo Global Management in the first quarter worth about $45,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Apollo Global Management in a research report on Wednesday. They issued an “outperform” rating and a $139.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Apollo Global Management in a report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price target on the stock. Evercore ISI increased their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Argus dropped their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, TD Cowen increased their price target on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.65.

Apollo Global Management Price Performance

Shares of APO opened at $124.52 on Thursday. The company has a market capitalization of $70.75 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.30 and a beta of 1.61. The business’s 50-day moving average is $113.78 and its two-hundred day moving average is $114.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $126.93.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same quarter in the prior year, the business posted $1.54 earnings per share. Research analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.