Apollo Global Management Inc. $APO Holdings Lowered by Zhang Financial LLC

Zhang Financial LLC reduced its stake in Apollo Global Management Inc. (NYSE:APO) by 34.7% in the first quarter, HoldingsChannel reports. The fund owned 19,023 shares of the financial services provider’s stock after selling 10,097 shares during the quarter. Zhang Financial LLC’s holdings in Apollo Global Management were worth $2,119,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Main Street Group LTD bought a new stake in Apollo Global Management during the first quarter worth approximately $118,000. Financiere des Professionnels Fonds d investissement inc. bought a new position in Apollo Global Management during the 1st quarter valued at $2,240,000. Independent Financial Group LLC acquired a new position in shares of Apollo Global Management during the 1st quarter valued at $650,000. Westover Capital Advisors LLC increased its position in shares of Apollo Global Management by 24.5% during the 1st quarter. Westover Capital Advisors LLC now owns 6,465 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 1,271 shares during the period. Finally, Wealthfront Advisers LLC raised its stake in shares of Apollo Global Management by 20.3% in the 1st quarter. Wealthfront Advisers LLC now owns 56,326 shares of the financial services provider’s stock worth $6,276,000 after buying an additional 9,513 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 2.3%

NYSE:APO opened at $120.51 on Friday. The business’s fifty day moving average price is $127.52 and its 200 day moving average price is $125.06. The firm has a market capitalization of $69.48 billion, a price-to-earnings ratio of 76.76, a PEG ratio of 1.07 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 1-year low of $99.56 and a 1-year high of $156.89.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company posted $1.82 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Apollo Global Management Inc. will post 8.23 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APO. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler lowered their target price on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research report on Monday, July 13th. Finally, Royal Bank Of Canada lowered their price objective on shares of Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

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.