Apollo Global Management, Inc. (NYSE:APO) Stock Position Raised by Dark Forest Capital Management LP

Dark Forest Capital Management LP lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 2,406.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,701 shares of the financial services provider’s stock after buying an additional 99,564 shares during the period. Apollo Global Management comprises 2.2% of Dark Forest Capital Management LP’s investment portfolio, making the stock its 3rd biggest holding. Dark Forest Capital Management LP’s holdings in Apollo Global Management were worth $12,244,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of APO. True Wealth Design LLC purchased a new stake in Apollo Global Management during the fourth quarter worth about $33,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $35,000. Carolinas Wealth Consulting LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $38,000. J.Safra Asset Management Corp increased its stake in Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 305 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Apollo Global Management during the first quarter worth $45,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on APO shares. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Wolfe Research started coverage on shares of Apollo Global Management in a research note on Wednesday. They set an “outperform” rating and a $139.00 price objective for the company. Wells Fargo & Company assumed coverage on Apollo Global Management in a research note on Thursday, September 12th. They issued an “overweight” rating and a $132.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Argus cut their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.65.

Apollo Global Management Stock Performance

NYSE:APO opened at $124.52 on Thursday. The company has a market cap of $70.75 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.30 and a beta of 1.61. The firm’s 50 day moving average is $113.78 and its two-hundred day moving average is $114.02. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $126.93. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter in the previous year, the business posted $1.54 EPS. Analysts expect that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.