Empirical Wealth Management, operating as Empirical Financial Services LLC, has made a notable entry into the financial markets, acquiring a significant new position in Apollo Global Management Inc. This strategic investment, valued at approximately $5.98 million, highlights the firm’s confidence in the financial services provider and signals a noteworthy portfolio adjustment in the first quarter, as detailed by Holdings Channel.
The acquisition involved 43,655 shares of Apollo Global Management stock, representing a substantial commitment from Empirical Wealth Management. This move is part of a broader trend, as numerous other prominent hedge funds and institutional investors have also recently adjusted their stakes in Apollo Global Management, reflecting a dynamic landscape within the investment community.
Indeed, the activity surrounding Apollo Global Management’s stock extends beyond Empirical Wealth. Fourth Dimension Wealth LLC, GW&K Investment Management LLC, ORG Partners LLC, Farmers & Merchants Investments Inc., and Meeder Asset Management Inc. all either initiated new positions or substantially increased their existing holdings in the company during recent quarters, collectively underscoring widespread institutional interest in the financial giant.
In addition to external investment shifts, internal movements within Apollo Global Management have also been under scrutiny. A recent transaction saw the company’s CFO divest 4,000 shares of stock, amounting to over $530,000. This sale, duly disclosed in an SEC filing, reduced the CFO’s direct ownership, although insiders collectively still maintain a significant stake in the firm.
The firm’s financial performance remains a key indicator for investors. Apollo Global Management recently reported its quarterly earnings, revealing an earnings per share (EPS) of $1.82, which slightly missed analysts’ consensus estimates. Despite this, the company posted robust revenue figures and maintained healthy net margins and return on equity, indicating underlying financial strength.
Further enhancing its appeal to shareholders, Apollo Global Management announced an increase in its quarterly dividend payout. This rise, from $0.46 to $0.51 per share, translates to an annualized dividend of $2.04, offering investors an attractive yield. The consistency and growth in dividend distribution often reflect a company’s stable financial health and commitment to returning value to shareholders.
Analysts have been actively re-evaluating their positions on Apollo Global Management, with several prominent research firms adjusting their price targets and ratings. While some, like TD Cowen and Raymond James, maintain ‘buy’ or ‘strong-buy’ ratings, others, including Piper Sandler, UBS Group, and Morgan Stanley, have revised their price objectives, reflecting a nuanced consensus rating of “Moderate Buy” across the board.
Apollo Global Management, Inc. itself is a formidable entity in the financial sector, specializing in a diverse range of investments spanning credit, private equity, infrastructure, secondaries, and real estate markets. The firm’s strategic approach includes traditional buyouts, distressed asset acquisitions, and growth investments, solidifying its position as a key player in both private and public market transactions.
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