SEB Asset Management AB Buys New Holdings in Apollo Global Management Inc. $APO

SEB Asset Management AB purchased a new position in Apollo Global Management Inc. (NYSE:APO) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 86,056 shares of the financial services provider’s stock, valued at approximately $9,588,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of 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 worth $522,850,000 after acquiring an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC acquired a new position in Apollo Global Management in the fourth quarter valued at approximately $1,599,000. Asset Management One Co. Ltd. increased its stake in Apollo Global Management by 6.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock valued at $27,936,000 after purchasing an additional 10,876 shares during the last quarter. Vanguard Group Inc. increased its stake in 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. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Apollo Global Management by 16.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider’s stock worth $14,319,000 after purchasing an additional 13,625 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada cut their price target on shares of Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. HSBC initiated coverage on shares of Apollo Global Management in a research note on Monday. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.08.

Insider Buying and Selling

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Price Performance

APO stock opened at $118.42 on Wednesday. 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 company has a market capitalization of $68.27 billion, a P/E ratio of 75.43, a PEG ratio of 1.03 and a beta of 1.50. The business has a 50 day simple moving average of $127.01 and a 200-day simple moving average of $124.52. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.43.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Apollo Global Management’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8.22 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

About Apollo Global Management

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.