Frontier Capital Management Co. LLC Lowers Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Frontier Capital Management Co. LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 39.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 416,400 shares of the financial services provider’s stock after selling 268,512 shares during the quarter. Frontier Capital Management Co. LLC owned 0.07% of Apollo Global Management worth $68,773,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management during the fourth quarter worth about $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management during the fourth quarter worth $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management in the fourth quarter worth $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares of the company’s stock, valued at $49,470,351.48. This trade represents a 1.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 509,000 shares of company stock worth $72,321,680 over the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Up 0.0 %

Shares of NYSE:APO opened at $129.34 on Thursday. The stock has a 50-day simple moving average of $132.15 and a 200-day simple moving average of $152.64. The stock has a market capitalization of $73.79 billion, a P/E ratio of 17.69, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period in the previous year, the company earned $1.72 EPS. Apollo Global Management’s revenue was down 21.2% on a year-over-year basis. Equities analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

Analyst Ratings Changes

A number of research firms have recently weighed in on APO. Keefe, Bruyette & Woods lowered their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Barclays increased their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler decreased their price target on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group dropped their price objective on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, TD Cowen decreased their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.85.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.