Flputnam Investment Management Co. Sells 9,525 Shares of Apollo Global Management Inc. $APO

Flputnam Investment Management Co. lowered its position in Apollo Global Management Inc. (NYSE:APO) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 230,245 shares of the financial services provider’s stock after selling 9,525 shares during the period. Flputnam Investment Management Co.’s holdings in Apollo Global Management were worth $33,330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Apollo Global Management by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after purchasing an additional 340,956 shares during the period. Northern Trust Corp boosted its stake in Apollo Global Management by 7.3% in the 3rd 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. Legal & General Group Plc boosted its stake in Apollo Global Management by 4.5% in the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares during the period. Bank of New York Mellon Corp boosted its stake in Apollo Global Management by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock worth $326,716,000 after purchasing an additional 48,053 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Apollo Global Management by 31.1% in the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after purchasing an additional 383,198 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Up 1.2%

Apollo Global Management stock opened at $129.99 on Wednesday. The firm has a 50-day moving average of $119.89 and a 200-day moving average of $127.95. 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 current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $74.94 billion, a price-to-earnings ratio of 82.80, a P/E/G ratio of 1.11 and a beta of 1.52.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $1.82 EPS. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts expect that Apollo Global Management Inc. will post 8.29 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. The ex-dividend date is Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. 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 currently 143.31%.

Wall Street Analyst Weigh In

APO has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their target price on shares of 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Morgan Stanley reduced their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Barclays upped their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, UBS Group upped their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $151.23.

Apollo Global Management Company 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.