Apollo Global Management Inc. $APO Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in Apollo Global Management Inc. (NYSE:APO) by 99.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,466 shares of the financial services provider’s stock after selling 1,528,182 shares during the period. Bessemer Group Inc.’s holdings in Apollo Global Management were worth $943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the 4th quarter valued at $29,000. MBM Wealth Consultants LLC purchased a new stake in shares of Apollo Global Management in the first quarter valued at $29,000. Steigerwald Gordon & Koch Inc. increased its stake in Apollo Global Management by 484.1% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Osbon Capital Management LLC acquired a new position in Apollo Global Management in the fourth quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. lifted its position in Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after buying an additional 96 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on APO. HSBC assumed coverage on Apollo Global Management in a report on Monday. They issued a “buy” rating and a $145.00 price target for the company. UBS Group boosted their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a report on Friday, May 8th. TD Cowen dropped their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Piper Sandler cut their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Finally, Morgan Stanley decreased their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.08.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Up 0.1%

Shares of NYSE:APO opened at $119.15 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.43. The stock has a market capitalization of $68.69 billion, a P/E ratio of 75.89, a PEG ratio of 1.04 and a beta of 1.50. The stock has a 50-day simple moving average of $126.43 and a 200-day simple moving average of $124.15.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. Equities analysts forecast that Apollo Global Management Inc. will post 8.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is 143.31%.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.