First Trust Advisors LP Reduces Position in Apollo Global Management, Inc. (NYSE:APO)

First Trust Advisors LP reduced its position in shares of Apollo Global Management, Inc. (NYSE:APOFree Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,738 shares of the financial services provider’s stock after selling 82,951 shares during the period. First Trust Advisors LP owned about 0.05% of Apollo Global Management worth $28,399,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $31,000. DSM Capital Partners LLC purchased a new position in shares of Apollo Global Management in the 4th quarter valued at $31,000. Blue Trust Inc. raised its stake in Apollo Global Management by 151.4% during the 4th quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 221 shares in the last quarter. CVA Family Office LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at $34,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Apollo Global Management in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 450,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The sale was disclosed in a filing with the SEC, which is available at this link. In other Apollo Global Management news, insider Leon D. Black sold 450,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the sale, the insider now directly owns 42,604,773 shares in the company, valued at $4,716,774,418.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the transaction, the chief financial officer now owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on APO. Barclays reduced their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Citigroup lifted their target price on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Evercore ISI increased their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group lowered their price objective on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $115.62.

Check Out Our Latest Analysis on APO

Apollo Global Management Stock Performance

Shares of APO stock opened at $118.92 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $112.47 and a 200-day simple moving average of $105.52. The company has a market cap of $67.57 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61. Apollo Global Management, Inc. has a 12-month low of $72.44 and a 12-month high of $119.55.

Apollo Global Management (NYSE:APOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The business had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. On average, equities analysts forecast that Apollo Global Management, Inc. will post 7.19 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.56%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Apollo Global Management Profile

(Free Report)

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

Further Reading

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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