Rockefeller Capital Management L.P. Reduces Position in Apollo Global Management Inc. $APO

Rockefeller Capital Management L.P. trimmed its holdings in Apollo Global Management Inc. (NYSE:APO) by 25.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 363,793 shares of the financial services provider’s stock after selling 126,691 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Apollo Global Management were worth $52,663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after purchasing an additional 1,692,532 shares during the last quarter. Focus Partners Wealth increased its position in shares of Apollo Global Management by 2,560.3% during the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock worth $203,324,000 after purchasing an additional 1,351,778 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Apollo Global Management by 271.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock worth $148,255,000 after purchasing an additional 748,697 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in Apollo Global Management by 879.2% in the 4th quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock valued at $109,055,000 after buying an additional 676,411 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Apollo Global Management by 5,321.9% in the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock valued at $79,845,000 after buying an additional 541,397 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on APO shares. The Goldman Sachs Group lowered their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their price objective on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Morgan Stanley dropped their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.23.

Apollo Global Management Stock Up 0.3%

Apollo Global Management stock opened at $137.85 on Friday. The firm has a market capitalization of $79.47 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.18 and a beta of 1.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $157.28. The stock’s fifty day simple moving average is $128.15 and its 200-day simple moving average is $128.24.

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. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. As a group, equities analysts expect that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced 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 1.6%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is 143.31%.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Company 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.