Heard Capital LLC Acquires 53,320 Shares of Apollo Global Management Inc. $APO

Heard Capital LLC grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,512,015 shares of the financial services provider’s stock after purchasing an additional 53,320 shares during the quarter. Apollo Global Management makes up approximately 10.3% of Heard Capital LLC’s portfolio, making the stock its 4th largest holding. Heard Capital LLC owned 0.26% of Apollo Global Management worth $218,879,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position 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 purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC boosted its position in Apollo Global Management by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp boosted its position in Apollo Global Management by 7.3% during the third quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after acquiring an additional 299,698 shares during the last quarter. Legal & General Group Plc boosted its position in Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after acquiring an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Apollo Global Management by 3.1% during the fourth 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 last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Up 1.7%

Shares of APO opened at $138.41 on Wednesday. The firm has a market cap of $79.80 billion, a PE ratio of 88.16, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The company’s fifty day moving average is $126.23 and its two-hundred day moving average is $128.06. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.82 EPS. Analysts forecast that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is 143.31%.

Analysts Set New Price Targets

APO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Barclays raised their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group decreased their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada raised their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.23.

Apollo Global Management Company 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.