Cresset Asset Management LLC Has $2.05 Million Holdings in Apollo Global Management, Inc. (NYSE:APO)

Cresset Asset Management LLC decreased its stake in Apollo Global Management, Inc. (NYSE:APO) by 32.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,379 shares of the financial services provider’s stock after selling 5,945 shares during the quarter. Cresset Asset Management LLC’s holdings in Apollo Global Management were worth $2,045,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of APO. Kestra Private Wealth Services LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth about $3,994,000. Fortress Financial Solutions LLC bought a new stake in Apollo Global Management during the fourth quarter worth about $685,000. Leavell Investment Management Inc. increased its holdings in shares of Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 1,750 shares in the last quarter. Amundi raised its stake in shares of Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock valued at $129,788,000 after acquiring an additional 93,451 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $20,034,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Down 0.5 %

Apollo Global Management stock opened at $132.49 on Friday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $75.58 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.17 and a beta of 1.67. The company’s 50 day simple moving average is $131.82 and its 200 day simple moving average is $152.48.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period last year, the firm earned $1.72 EPS. Apollo Global Management’s quarterly revenue was down 21.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Cowen restated a “buy” rating on shares of Apollo Global Management in a research note on Monday. Bank of America upped their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods lowered their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.89.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer now directly owns 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 509,000 shares of company stock worth $72,321,680 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.