Apollo Global Management, Inc. (NYSE:APO) Position Trimmed by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 32.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,379 shares of the financial services provider’s stock after selling 5,945 shares during the period. Cresset Asset Management LLC’s holdings in Apollo Global Management were worth $2,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new position in Apollo Global Management in the 4th quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management in the fourth quarter worth approximately $34,000. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management during the 4th quarter worth approximately $45,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

NYSE:APO opened at $132.49 on Friday. The firm has a market capitalization of $75.58 billion, a PE ratio of 18.12, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $131.82 and its 200 day simple moving average is $152.48.

Apollo Global Management (NYSE:APO) last issued 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 business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period in the prior year, the business posted $1.72 earnings per share. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. On average, 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 issued a dividend of $0.51 per share. The ex-dividend date is Friday, May 16th. This is a positive change 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 1.54%. Apollo Global Management’s payout ratio is 35.73%.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer now directly owns 373,164 shares of the company’s stock, valued at $49,470,351.48. This trade represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 509,000 shares of company stock valued at $72,321,680. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

APO has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Morgan Stanley decreased their price target on shares of 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. Keefe, Bruyette & Woods dropped their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Barclays lifted their target price 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, Citigroup dropped their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.89.

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.