Geode Capital Management LLC Acquires 200,312 Shares of Apollo Global Management Inc. $APO

Geode Capital Management LLC increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,198,837 shares of the financial services provider’s stock after purchasing an additional 200,312 shares during the period. Geode Capital Management LLC’s holdings in Apollo Global Management were worth $1,469,793,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp boosted its holdings in shares of Apollo Global Management by 99.0% during the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 99 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $29,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the period. City Holding Co. boosted its holdings in shares of Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 243 shares during the period. Finally, Center for Financial Planning Inc. bought a new stake in shares of Apollo Global Management during the third quarter worth approximately $50,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 2.1%

Shares of APO stock opened at $127.55 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock has a market cap of $73.54 billion, a P/E ratio of 81.24, a price-to-earnings-growth ratio of 1.12 and a beta of 1.52. The stock has a 50 day simple moving average of $120.79 and a 200 day simple moving average of $127.92. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. On average, research analysts predict that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is presently 143.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APO. Evercore restated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. BMO Capital Markets reduced their price objective on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a report on Tuesday, March 24th. Argus upgraded Apollo Global Management to a “strong-buy” rating in a report on Thursday, February 19th. Piper Sandler boosted their price objective on Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, TD Cowen reduced their price objective on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

More Apollo Global Management News

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

• Positive Sentiment: Apollo is expanding its private-equity activity by backing Apex Service Partners, a home-services platform, in a deal that values the company around $10 billion. That kind of large investment activity can support fee-generating growth for Apollo. Apex Service sells minority stake to Apollo at $10 bln valuation, source says
• Positive Sentiment: Apollo also appears to be pursuing a major financing role tied to Anthropic’s AI infrastructure needs, with reports that it is shopping a large debt package to help fund AI chip purchases. That suggests Apollo may capture another sizable origination fee opportunity. Apollo Shops $36 Billion Debt to Buy AI Chips for Anthropic (1)
• Neutral Sentiment: Management’s presentation at Bernstein’s strategic decisions conference is drawing attention, but the transcript itself does not appear to contain a clear new catalyst yet. Apollo Global Management, Inc. (APO) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: An insider sale by John P. Zito was disclosed, but the executive still retains a very large position, so the transaction may be read as routine rather than a major red flag. SEC Form 4 filing
• Negative Sentiment: Apollo’s president said wealthy investors are still trying to withdraw money from some U.S. private credit funds, pointing to ongoing outflows that could weigh on sentiment around the firm’s private credit business. Apollo’s president sees continued withdrawals from US private credit funds for the wealthy

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the business’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 sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

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.