Altus Wealth Group LLC Reduces Stock Holdings in Apollo Global Management Inc. $APO

Altus Wealth Group LLC lowered its stake in Apollo Global Management Inc. (NYSE:APO) by 82.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,853 shares of the financial services provider’s stock after selling 8,589 shares during the period. Altus Wealth Group LLC’s holdings in Apollo Global Management were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management during the fourth quarter valued at about $29,000. MBM Wealth Consultants LLC purchased a new stake in Apollo Global Management in the first quarter worth about $29,000. Osbon Capital Management LLC purchased a new stake in Apollo Global Management in the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. boosted its position in 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 valued at $38,000 after acquiring an additional 96 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Apollo Global Management during the 4th quarter valued at approximately $42,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Trading Up 0.1%

Shares of NYSE APO opened at $118.71 on Friday. The firm’s 50 day moving average price is $128.79 and its 200-day moving average price is $126.95. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week 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 company has a market cap of $68.44 billion, a PE ratio of 75.61, a P/E/G ratio of 1.02 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts expect that Apollo Global Management Inc. will post 8.26 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.9%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays increased their target price on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. TD Cowen dropped their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. BMO Capital Markets reduced their price target on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. Morgan Stanley decreased their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Finally, UBS Group raised their price objective on Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.23.

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.