Allen Investment Management LLC Reduces Stock Position in Apollo Global Management Inc. $APO

Allen Investment Management LLC cut its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 7.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,418,178 shares of the financial services provider’s stock after selling 183,082 shares during the period. Apollo Global Management accounts for about 3.9% of Allen Investment Management LLC’s portfolio, making the stock its 9th biggest position. Allen Investment Management LLC’s holdings in Apollo Global Management were worth $350,055,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd boosted its position in Apollo Global Management by 100.3% during the third quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider’s stock worth $1,440,000 after purchasing an additional 5,452 shares during the period. NEOS Investment Management LLC lifted its stake in shares of Apollo Global Management by 48.7% during the 3rd quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider’s stock valued at $6,997,000 after buying an additional 17,204 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Apollo Global Management by 11.0% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider’s stock worth $120,017,000 after buying an additional 89,439 shares during the period. Cornerstone Investment Partners LLC grew its stake in Apollo Global Management by 23.6% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider’s stock valued at $84,029,000 after buying an additional 120,558 shares in the last quarter. Finally, Swiss National Bank grew its stake in Apollo Global Management by 4.0% in the 3rd quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider’s stock valued at $167,562,000 after buying an additional 48,400 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Down 0.2%

Shares of NYSE:APO opened at $128.43 on Tuesday. The stock has a market capitalization of $74.04 billion, a P/E ratio of 81.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.50. The stock’s 50-day moving average price is $121.48 and its 200-day moving average price is $127.88. 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 12-month low of $99.56 and a 12-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 for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 EPS. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is currently 143.31%.

Analysts Set New Price Targets

A number of research firms have weighed in on APO. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada boosted their price objective on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets decreased their target price on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.23.

Insider Transactions at Apollo Global Management

In other Apollo Global Management 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 value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management 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.