Mill Creek Capital Advisors LLC Sells 4,004 Shares of Apollo Global Management Inc. $APO

Mill Creek Capital Advisors LLC reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 66.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,025 shares of the financial services provider’s stock after selling 4,004 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Apollo Global Management were worth $293,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after purchasing an additional 340,956 shares during the last quarter. Geode Capital Management LLC raised its position in Apollo Global Management by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock worth $1,469,793,000 after purchasing an additional 200,312 shares during the last quarter. Northern Trust Corp raised its position in Apollo Global Management by 7.3% during the 3rd quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after purchasing an additional 299,698 shares during the last quarter. Legal & General Group Plc raised its position in Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after purchasing an additional 98,945 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of APO opened at $136.31 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a 50-day moving average of $125.60 and a 200-day moving average of $128.01. The company has a market cap of $78.58 billion, a PE ratio of 86.82, a P/E/G ratio of 1.15 and a beta of 1.50. Apollo Global Management Inc. has a one year low of $99.56 and a one year 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 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. On average, equities research analysts predict that Apollo Global Management Inc. will post 8.28 EPS 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. Stockholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Morgan Stanley lowered their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. UBS Group lifted their price objective on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, Barclays lifted their price objective on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.23.

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 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 $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.30% of the stock is currently owned by corporate insiders.

About Apollo Global Management

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.