Pacer Advisors Inc. Sells 8,534 Shares of Apollo Global Management Inc. $APO

Pacer Advisors Inc. cut its holdings in Apollo Global Management Inc. (NYSE:APO) by 19.0% in the fourth quarter, Holdings Channel reports. The fund owned 36,309 shares of the financial services provider’s stock after selling 8,534 shares during the quarter. Pacer Advisors Inc.’s holdings in Apollo Global Management were worth $5,256,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $29,000. Physician Wealth Advisors Inc. increased its holdings in Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after buying an additional 96 shares during the period. Greykasell Wealth Strategies Inc. bought a new position in Apollo Global Management in the fourth quarter worth approximately $42,000. City Holding Co. raised its stake in Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after buying an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in Apollo Global Management by 54.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock worth $53,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on APO shares. Morgan Stanley dropped their target price on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Piper Sandler upped their price objective on Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings cut Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Finally, BMO Capital Markets reduced their target price on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a report on Tuesday, March 24th. One investment 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 stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $151.23.

Apollo Global Management Price Performance

NYSE APO opened at $135.26 on Tuesday. The firm’s fifty day simple moving average is $128.71 and its two-hundred day simple moving average is $128.24. 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 12-month low of $99.56 and a 12-month high of $157.28. The firm has a market capitalization of $77.98 billion, a P/E ratio of 86.15, a P/E/G ratio of 1.18 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 EPS. Analysts forecast that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a yield of 1.7%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is currently 143.31%.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

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.