Gould Capital LLC's Investment in Apollo Global Management, Inc.

Gould Capital LLC recently made a significant investment in Apollo Global Management, Inc. (NYSE:APO), according to their latest filing with the Securities and Exchange Commission (SEC). During the third quarter, Gould Capital acquired a total of 9,559 shares of Apollo's stock, with the investment worth approximately $1.19 million.

Recent Changes in Stake by Other Investors

Other institutional investors have also shown interest in Apollo Global Management, modifying their positions in the company. For instance, Geode Capital Management LLC boosted its holdings by 4.7% during the same quarter, now owning 5,717,266 shares valued at around $713.23 million after acquiring an additional 254,268 shares. Valued Retirements Inc. initiated a new stake in Apollo during the third quarter, valued at approximately $449,000. Furthermore, Nomura Asset Management Co. Ltd. increased its investment by an impressive 100.7%, owning 219,118 shares worth about $27.37 million after purchasing 109,961 additional shares.

MML Investors Services LLC also raised its stake by 23.3%, accumulating 14,629 shares valued at $1.83 million after a purchase of 2,767 shares. Similarly, Orion Portfolio Solutions LLC increased its holdings by 3.1%, now owning 12,791 shares valued at approximately $1.60 million. In total, institutional investors and hedge funds control around 77.06% of Apollo Global Management’s stock.

Insider Trading Activity

Concerning insider activity, Leon D. Black, an insider at Apollo Global Management, sold 133,400 shares on December 2nd at an average price of $174.16, amounting to a total of $23.23 million. Following this transaction, Black retains ownership of over 35 million shares, valued at roughly $6.18 billion, marking a slight 0.37% reduction in his stake. The CFO, Martin Kelly, also sold 5,000 shares on December 3rd at an average price of $172.61, totaling about $863,050, reducing his holdings by 1.54%. Over the past 90 days, insiders have sold a combined total of 196,600 shares valued at $34.19 million, signaling that insiders currently own approximately 8.50% of Apollo’s stock.

Recent Analyst Ratings for Apollo Global Management

Apollo Global Management has received mixed ratings from various analysts lately. Argus reduced their price target from $135 to $125, maintaining a “buy” rating. Meanwhile, Goldman Sachs raised their price target from $161 to $178, along with a “buy” rating on November 19th. Wolfe Research started coverage with an “outperform” rating and a $139 price target, while JPMorgan Chase & Co. adjusted their target from $129 to $143 and assigned an “overweight” rating. Keefe, Bruyette & Woods raised their price target from $159 to $168 with an “outperform” rating. Overall, there is one sell rating, four hold ratings, and sixteen buy ratings for the stock, resulting in a consensus rating of “Moderate Buy” with a price target of $159.16.

Apollo Global Management's Stock Performance

As of Tuesday, Apollo Global Management’s stock opened at $172.43. The 50-day and 200-day simple moving averages are at $154.41 and $129.39, respectively. The stock reached a 52-week low of $89.76 and a high of $189.49. Financially, Apollo has a debt-to-equity ratio of 0.33 and maintains a quick ratio of 1.44. With a market capitalization of about $97.56 billion, the company has a P/E ratio of 18.02 and a P/E/G ratio of 1.84, with a beta of 1.63.

Dividend Increase Announcement

Apollo Global Management has also announced an increase in its quarterly dividend, paid on November 29th. Shareholders of record on November 18th received a dividend of $0.463 per share, which marks a total annual dividend of $1.85, translating to a yield of 1.07%. This payout reflects an increase from the previous quarterly dividend of $0.46, demonstrating the firm’s commitment to returning value to its shareholders.

Company Overview

Apollo Global Management, Inc. is a private equity firm that specializes in a variety of investment areas including credit, private equity, infrastructure, secondaries, and real estate. The firm favors opportunities in both private and public markets, with a focus on enhancing value through diverse investment strategies such as buyouts, corporate carve-outs, and middle-market growth deals.

Investment, Stocks, Analysis