Sterling Capital Management LLC Sells 118,936 Shares of Apollo Global Management Inc. $APO

Sterling Capital Management LLC cut its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 78.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 32,377 shares of the financial services provider’s stock after selling 118,936 shares during the quarter. Sterling Capital Management LLC’s holdings in Apollo Global Management were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth $29,000. Osbon Capital Management LLC bought a new position in Apollo Global Management in the fourth quarter valued at about $36,000. MBM Wealth Consultants LLC purchased a new position in Apollo Global Management in the first quarter worth about $29,000. Physician Wealth Advisors Inc. grew its stake in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Apollo Global Management during the 4th quarter valued at about $42,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by insiders.

Apollo Global Management Stock Down 2.3%

APO stock opened at $118.66 on Friday. The business’s 50-day moving average price is $129.59 and its 200-day moving average price is $127.93. The stock has a market cap of $68.41 billion, a P/E ratio of 75.58, a PEG ratio of 1.02 and a beta of 1.50. The company has a quick ratio of 1.73, a current 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.

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

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost 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 currently 143.31%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of 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 shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Finally, TD Cowen cut their price objective 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, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

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.