Apollo Global Management Inc. $APO Holdings Reduced by Capital World Investors

Capital World Investors decreased its position in Apollo Global Management Inc. (NYSE:APO) by 14.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 24,170,303 shares of the financial services provider’s stock after selling 4,049,297 shares during the period. Capital World Investors’ holdings in Apollo Global Management were worth $3,498,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd grew its position in Apollo Global Management by 100.3% in the 3rd quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider’s stock worth $1,440,000 after purchasing an additional 5,452 shares during the last quarter. NEOS Investment Management LLC grew its position in Apollo Global Management by 48.7% in the 3rd quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider’s stock worth $6,997,000 after purchasing an additional 17,204 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Apollo Global Management by 11.0% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider’s stock worth $120,017,000 after purchasing an additional 89,439 shares during the last quarter. Cornerstone Investment Partners LLC boosted its holdings in shares of Apollo Global Management by 23.6% in the third quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider’s stock valued at $84,029,000 after acquiring an additional 120,558 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Apollo Global Management by 4.0% in the third quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider’s stock valued at $167,562,000 after acquiring an additional 48,400 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 0.3%

Shares of NYSE:APO opened at $128.01 on Friday. The stock has a market capitalization of $73.80 billion, a price-to-earnings ratio of 81.53, a PEG ratio of 1.10 and a beta of 1.50. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-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 company has a 50 day moving average price of $122.81 and a 200 day moving average price of $127.80.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. On average, research analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a $0.5625 dividend. This is a boost 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 1.8%. Apollo Global Management’s payout ratio is currently 143.31%.

Wall Street Analysts Forecast Growth

APO has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Evercore reiterated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Morgan Stanley decreased their price objective on shares of 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, Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.23.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company’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 completion of the sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

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.