Newbrook Capital Advisors LP Decreases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Newbrook Capital Advisors LP cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 37.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 601,877 shares of the financial services provider’s stock after selling 366,131 shares during the quarter. Apollo Global Management accounts for about 12.7% of Newbrook Capital Advisors LP’s holdings, making the stock its 2nd biggest holding. Newbrook Capital Advisors LP’s holdings in Apollo Global Management were worth $99,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of APO. Kestra Private Wealth Services LLC bought a new stake in Apollo Global Management in the 4th quarter worth $3,994,000. Fortress Financial Solutions LLC purchased a new position in shares of Apollo Global Management in the 4th quarter worth approximately $685,000. Leavell Investment Management Inc. increased its holdings in shares of Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 1,750 shares in the last quarter. Amundi increased its stake in shares of Apollo Global Management by 13.2% in the 4th quarter. Amundi now owns 801,260 shares of the financial services provider’s stock valued at $129,788,000 after purchasing an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of Apollo Global Management in the fourth quarter worth approximately $20,034,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 1.2%

NYSE:APO opened at $145.23 on Wednesday. The company has a market capitalization of $82.85 billion, a PE ratio of 19.87, a P/E/G ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The stock’s 50 day moving average price is $132.09 and its 200 day moving average price is $152.54. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management (NYSE:APO) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $977.14 million. During the same quarter last year, the business posted $1.72 earnings per share. The business’s revenue was down 21.2% on a year-over-year basis. On average, research analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on APO shares. Citigroup cut their price target on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Morgan Stanley reduced their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Barclays raised their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Raymond James began coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $157.89.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31% decrease in their position. The disclosure for this sale 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. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Profile

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.