Apollo Global Management Inc. $APO Stock Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 11.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,256 shares of the financial services provider’s stock after acquiring an additional 8,235 shares during the period. Rakuten Investment Management Inc.’s holdings in Apollo Global Management were worth $9,669,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of APO. Legal & General Group Plc acquired a new position in shares of Apollo Global Management in the second quarter worth about $459,987,000. Bank of New York Mellon Corp acquired a new stake in Apollo Global Management during the 2nd quarter valued at approximately $336,644,000. Temasek Holdings Private Ltd grew its stake in Apollo Global Management by 214.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Deutsche Bank AG purchased a new stake in Apollo Global Management during the 2nd quarter worth approximately $172,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Apollo Global Management during the 2nd quarter worth approximately $136,528,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APO has been the topic of a number of recent analyst reports. HSBC initiated coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Apollo Global Management in a research report on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price target for the company. Rothschild & Co Redburn raised their price target on shares of Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Piper Sandler restated an “overweight” rating and issued a $145.00 price target on shares of Apollo Global Management in a research note on Wednesday. Finally, Evercore upped their price target on shares of Apollo Global Management from $145.00 to $146.00 in a report on Thursday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $146.89.

More Apollo Global Management News

Here are the key news stories impacting Apollo Global Management this week:

• Positive Sentiment: Apollo reported record quarterly originations of $114 billion and assets under management of $1.07 trillion. It also generated $802 million in fee-related earnings, supporting the case for continued growth in its core business. Apollo reports record originations and AUM
• Positive Sentiment: JPMorgan raised its price target to $157 and maintained an Overweight rating, signaling confidence in Apollo’s potential despite the recent weakness. JPMorgan analyst rating
• Neutral Sentiment: Goldman Sachs and Apollo are reportedly seeking buyers for a roughly $40 billion SpaceX AI-chip financing deal. The arrangement could create business opportunities, but the size and buyer-search process leave execution and demand uncertain. Goldman and Apollo discuss SpaceX AI deal
• Neutral Sentiment: Nvidia is reportedly considering Apollo’s telecom-site assets as a way to develop data-center capacity where new facilities face restrictions. This could improve the value of those assets, though no transaction was confirmed. Nvidia reportedly eyes Apollo telecom sites
• Negative Sentiment: Coverage highlighted a sharp selloff in APO. Reports that Apollo is heavily outspending smaller cloud-computing firms on AI chips, alongside an economist’s view that GDP gains from capital spending may be more modest, may heighten investor concern about the cost and returns of AI investment. Apollo’s AI-chip spending
• Negative Sentiment: Several analysts trimmed their price targets, including RBC, KBW, Morgan Stanley and Barclays, although most retained positive or market-level ratings. The revisions add a cautious note after the stock’s recent weakness. RBC analyst rating

Apollo Global Management Stock Down 4.7%

NYSE:APO opened at $117.04 on Friday. The company has a market capitalization of $69.11 billion, a price-to-earnings ratio of -63.95, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. The stock has a 50-day simple moving average of $121.12 and a 200 day simple moving average of $123.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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 negative net margin of 2.98% and a positive return on equity of 12.11%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 7.96 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Wednesday, November 18th will be given a $0.5625 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.30% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc (NYSE:APO) is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.