Hsbc Holdings PLC Reduces Holdings in Apollo Global Management Inc. $APO

Hsbc Holdings PLC decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 7.0% during the first quarter, HoldingsChannel reports. The firm owned 831,836 shares of the financial services provider’s stock after selling 62,615 shares during the quarter. Hsbc Holdings PLC’s holdings in Apollo Global Management were worth $92,820,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of APO. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the fourth quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the 1st quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 213 shares during the period. Osbon Capital Management LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $36,000. Finally, Physician Wealth Advisors Inc. raised its position in shares of Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 0.0%

APO stock opened at $120.51 on Monday. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $156.89. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a market cap of $69.48 billion, a PE ratio of 76.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. The business has a 50 day moving average of $127.52 and a 200 day moving average of $124.90.

Apollo Global Management (NYSE:APO) last released its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, research analysts forecast that Apollo Global Management Inc. will post 8.23 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is presently 143.31%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APO. BMO Capital Markets lowered their target price on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Evercore restated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Piper Sandler decreased their price target on shares of 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. Finally, TD Cowen lowered their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $149.50.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is currently owned by insiders.

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.