NewsAug 21, 2026, 10:30 UTC

Danske Bank buys $23M Apollo stake as Q2 earnings miss estimates

What's the deal? Danske Bank A/S has taken a new position in Apollo Global Management, buying 193,990 shares worth about $22,951,000 in the second quarter, according to a filing with the Securities and Exchange Commission (SEC).

What does Apollo do? The New York-listed firm is an alternative asset manager and financial services provider, with a market cap of $76.94 billion and a PE ratio of 47.73.

How's the business doing? Apollo reported $2.11 EPS for the second quarter ended 4 August 2026, missing the $2.16 consensus by $0.05. Revenue of $5.57 billion also came in short of the $5.65 billion analysts expected, though EPS rose from $1.92 a year earlier.

Where's the stock? On 21 August 2026, shares opened at $130.29, between a 52-week low of $99.56 and high of $153.29. The company declared a quarterly dividend of $0.5625, a $2.25 annualised payout yielding 1.7%.

Who else is buying? Institutional investors hold 77.06% of the stock. Vanguard Group owns 47,760,608 shares worth $6,913,826,000 after a 0.7% increase, while Legal & General grew its stake 4.5% to 3,611,839 shares worth $522,850,000.

What do analysts say? Views are mixed. Morgan Stanley cut its price target to $164 with an "overweight" rating, Royal Bank of Canada raised its target to $146 at "sector perform," and HSBC began coverage at "buy" with a $145 target.

The signal: Danske Bank's entry adds to steady institutional accumulation in Apollo, even as the manager's second-quarter results fell short of Wall Street forecasts — a sign that long-term investors remain drawn to alternative asset managers despite near-term earnings pressure.