Tiger Global Management LLC Sells 2,916,162 Shares of Apollo Global Management Inc. $APO

Tiger Global Management LLC reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 47.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,293,334 shares of the financial services provider’s stock after selling 2,916,162 shares during the period. Apollo Global Management makes up 1.6% of Tiger Global Management LLC’s investment portfolio, making the stock its 17th biggest position. Tiger Global Management LLC’s holdings in Apollo Global Management were worth $366,943,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Schnieders Capital Management LLC. bought a new position in Apollo Global Management during the second quarter valued at approximately $7,954,000. Baird Financial Group Inc. boosted its stake in shares of Apollo Global Management by 117.5% in the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock valued at $2,287,000 after purchasing an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Apollo Global Management in the 2nd quarter worth $722,000. Finally, Northern Right Capital Management L.P. raised its position in Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock worth $24,542,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Up 3.0%

APO opened at $122.53 on Friday. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29. 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 business has a 50 day simple moving average of $126.18 and a two-hundred day simple moving average of $124.14. The firm has a market capitalization of $70.64 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 1.07 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $1.82 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts predict that Apollo Global Management Inc. will post 8.19 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.8%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays raised their price target on Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler lowered their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. 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. Finally, Morgan Stanley decreased their target price on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.08.

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.