Smithbridge Asset Management Inc. DE Cuts Stock Position in Apollo Global Management Inc. $APO

Smithbridge Asset Management Inc. DE decreased its holdings in Apollo Global Management Inc. (NYSE:APO) by 51.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,910 shares of the financial services provider’s stock after selling 68,655 shares during the period. Apollo Global Management comprises approximately 1.1% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 29th largest position. Smithbridge Asset Management Inc. DE’s holdings in Apollo Global Management were worth $7,232,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on APO shares. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. TD Cowen reduced their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Morgan Stanley decreased their price target on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. 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 on the stock in a research report on Tuesday, April 7th. Finally, Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $151.23.

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Up 0.1%

APO stock opened at $118.43 on Thursday. The business has a fifty day simple moving average of $129.17 and a 200-day simple moving average of $127.22. The company has a market cap of $68.28 billion, a price-to-earnings ratio of 75.43, 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 52 week low of $99.56 and a 52 week high of $157.28.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The business 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%.The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. On average, equities research analysts expect that Apollo Global Management Inc. will post 8.26 EPS for the current year.

Apollo Global Management Increases Dividend

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

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.