Apollo Global Management Inc. $APO Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its position in Apollo Global Management Inc. (NYSE:APO) by 82.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 10,272 shares of the financial services provider’s stock after selling 48,788 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Apollo Global Management were worth $1,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in APO. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at about $29,000. Osbon Capital Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $36,000. Physician Wealth Advisors Inc. lifted its position 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 worth $38,000 after buying an additional 96 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in Apollo Global Management during the fourth quarter worth $42,000. Finally, City Holding Co. raised its holdings in shares of Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 243 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 6.1%

NYSE:APO opened at $122.67 on Thursday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock’s 50 day simple moving average is $129.50 and its 200-day simple moving average is $128.11. The firm has a market cap of $70.72 billion, a P/E ratio of 78.14, a PEG ratio of 1.12 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.82 EPS. Equities analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current 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 issued a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. Apollo Global Management’s payout ratio is presently 143.31%.

Insider Activity

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on 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 sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore restated an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Morgan Stanley lowered their price objective on shares of 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. BMO Capital Markets lowered their price target on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings downgraded shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, UBS Group boosted their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.23.

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.