Manning & Napier Advisors LLC Takes Position in Apollo Global Management Inc. $APO

Manning & Napier Advisors LLC bought a new position in shares of Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,747 shares of the financial services provider’s stock, valued at approximately $7,069,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after buying an additional 340,956 shares during the last quarter. Geode Capital Management LLC increased its position 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 acquiring an additional 200,312 shares during the period. Northern Trust Corp increased its position in 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 valued at $643,982,000 after acquiring an additional 62,831 shares during the period. Legal & General Group Plc raised its stake in Apollo Global Management by 4.5% during 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 acquiring an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after acquiring an additional 98,945 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 0.0%

Shares of NYSE APO opened at $132.72 on Tuesday. 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 52 week low of $99.56 and a 52 week high of $153.29. The firm has a 50-day moving average price of $126.57 and a 200 day moving average price of $122.72. The stock has a market capitalization of $78.38 billion, a price-to-earnings ratio of 48.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate 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 company 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 company posted $1.92 earnings per share. Equities research analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

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

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APO shares. Morgan Stanley dropped their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $152.77.

Apollo Global Management 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.