Kovitz Investment Group Partners LLC Decreases Stake in Apollo Global Management Inc. $APO

Kovitz Investment Group Partners LLC lessened its position in shares of Apollo Global Management Inc. (NYSE:APO) by 98.2% in the 4th quarter, HoldingsChannel reports. The fund owned 22,881 shares of the financial services provider’s stock after selling 1,273,976 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Apollo Global Management were worth $3,312,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APO. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at $29,000. Physician Wealth Advisors Inc. lifted its position in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in shares of Apollo Global Management during the fourth quarter worth $42,000. City Holding Co. grew its stake in shares of Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock valued at $53,000 after buying an additional 129 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on APO shares. Barclays raised their price target on Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. BMO Capital Markets lowered their price objective on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. TD Cowen dropped their price objective 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. Royal Bank Of Canada boosted their target price on Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

Apollo Global Management Trading Up 0.3%

NYSE APO opened at $137.85 on Friday. The firm’s fifty day moving average is $128.15 and its two-hundred day moving average is $128.24. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $79.47 billion, a PE ratio of 87.80, a P/E/G ratio of 1.18 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. 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 1.6%. Apollo Global Management’s dividend payout ratio is presently 143.31%.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the 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 completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by company insiders.

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.