Apollo Global Management, Inc. (NYSE:APO) Stock Holdings Lessened by Principal Street Partners LLC

Principal Street Partners LLC cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,219 shares of the financial services provider’s stock after selling 255 shares during the quarter. Principal Street Partners LLC’s holdings in Apollo Global Management were worth $697,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of APO. Vanguard Group Inc. increased its stake in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after buying an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after acquiring an additional 1,460,689 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $142.61 on Tuesday. The business’s 50-day simple moving average is $133.11 and its 200-day simple moving average is $152.59. 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, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The firm has a market cap of $81.36 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.17 and a beta of 1.67.

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

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.43%. 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. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on APO. Keefe, Bruyette & Woods cut their target price 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. Raymond James initiated coverage on 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. UBS Group decreased their price objective on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Piper Sandler lowered their target price on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Bank of America raised their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $157.89.

Insiders Place Their Bets

In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Apollo Global Management Company 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.