Jennison Associates LLC Has $548,000 Stock Position in Apollo Global Management Inc. $APO

Jennison Associates LLC lowered its stake in Apollo Global Management Inc. (NYSE:APO) by 93.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of 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 valued at $6,913,826,000 after acquiring an additional 340,956 shares in the last quarter. Geode Capital Management LLC grew its position in Apollo Global Management by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after purchasing an additional 200,312 shares in the last quarter. Northern Trust Corp raised its stake in Apollo Global Management by 1.4% during the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after purchasing an additional 62,831 shares during the period. Legal & General Group Plc raised its stake in Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock valued at $475,985,000 after purchasing an additional 98,945 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.1%

NYSE APO opened at $119.15 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.43. The firm’s fifty day simple moving average is $126.43 and its 200-day simple moving average is $124.15. The company has a market capitalization 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.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.19 earnings per share 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. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend 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 is presently 143.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on APO shares. UBS Group raised their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Piper Sandler reduced their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group decreased their price objective on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Finally, Morgan Stanley dropped their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $149.08.

Insider Activity at Apollo Global Management

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 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. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.