Apollo Global Management Inc. $APO Position Cut by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 93.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,916 shares of the financial services provider’s stock after selling 71,913 shares during the quarter. Jennison Associates LLC’s holdings in Apollo Global Management were worth $548,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management during the 4th quarter valued at about $29,000. MBM Wealth Consultants LLC acquired a new stake in shares of Apollo Global Management in the first quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Apollo Global Management by 484.1% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HSBC began coverage on Apollo Global Management in a research report on Monday. They issued a “buy” rating and a $145.00 target price on the stock. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. The Goldman Sachs Group reduced their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $149.08.

Apollo Global Management Stock Up 0.1%

Shares of APO stock opened at $119.15 on Friday. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $153.43. The stock has a market cap of $68.69 billion, a PE ratio of 75.89, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. The business’s fifty day moving average is $126.43 and its 200-day moving average is $124.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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 return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. Equities analysts expect that Apollo Global Management Inc. will post 8.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

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.