Dividend Assets Capital LLC Sells 440 Shares of Apollo Global Management, Inc. (NYSE:APO)

Dividend Assets Capital LLC cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,737 shares of the financial services provider’s stock after selling 440 shares during the quarter. Dividend Assets Capital LLC’s holdings in Apollo Global Management were worth $649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC increased its stake in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after buying an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after purchasing an additional 1,739,807 shares during the period. Northern Trust Corp raised its position in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock opened at $133.55 on Tuesday. The business’s fifty day simple moving average is $130.49 and its two-hundred day simple moving average is $149.47. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $76.32 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.17 and a beta of 1.59. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

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

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.53%. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Bank of America upped their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Citigroup cut their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Barclays upped their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, TD Cowen lowered their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by corporate insiders.

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.