Commonwealth Equity Services LLC Trims Stock Holdings in Apollo Global Management Inc. $APO

Commonwealth Equity Services LLC trimmed its position in Apollo Global Management Inc. (NYSE:APO) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,874 shares of the financial services provider’s stock after selling 8,713 shares during the period. Commonwealth Equity Services LLC’s holdings in Apollo Global Management were worth $5,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. Vanguard Group Inc. grew its stake in Apollo Global Management by 3.0% in the third quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider’s stock worth $6,319,617,000 after purchasing an additional 1,377,545 shares during the period. Bahl & Gaynor Inc. grew its stake in Apollo Global Management by 62.0% in the third quarter. Bahl & Gaynor Inc. now owns 996,727 shares of the financial services provider’s stock worth $132,834,000 after purchasing an additional 381,479 shares during the period. Dimensional Fund Advisors LP grew its stake in Apollo Global Management by 23.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,709,351 shares of the financial services provider’s stock worth $247,469,000 after purchasing an additional 322,322 shares during the period. Northern Trust Corp grew its stake in Apollo Global Management by 7.3% in the third quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after purchasing an additional 299,698 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in Apollo Global Management in the fourth quarter worth $40,454,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Argus raised Apollo Global Management to a “strong-buy” rating in a research note on Thursday, February 19th. Weiss Ratings downgraded Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, TD Cowen dropped their target price on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $151.23.

Apollo Global Management Trading Down 0.3%

Apollo Global Management stock opened at $128.01 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $122.81 and its two-hundred day simple moving average is $127.80. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The company has a market capitalization of $73.80 billion, a price-to-earnings ratio of 81.53, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last released its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. Apollo Global Management’s dividend payout ratio is currently 143.31%.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.

Apollo Global Management Profile

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.