BI Asset Management Fondsmaeglerselskab A S Has $8.55 Million Position in Apollo Global Management Inc. $APO

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Apollo Global Management Inc. (NYSE:APO) by 39.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 59,060 shares of the financial services provider’s stock after selling 37,745 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Apollo Global Management were worth $8,550,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Atlantic Union Bankshares Corp lifted its holdings in Apollo Global Management by 99.0% in the third quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock valued at $27,000 after buying an additional 99 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the fourth quarter valued at approximately $29,000. Physician Wealth Advisors Inc. lifted its holdings in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after buying an additional 96 shares during the period. City Holding Co. lifted its holdings in Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock valued at $44,000 after buying an additional 243 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock valued at $53,000 after buying an additional 129 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.3%

Shares of APO stock opened at $128.01 on Friday. The firm has a fifty day moving average of $122.81 and a 200-day moving average of $127.80. 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 12-month low of $99.56 and a 12-month high of $157.28. The company has a market capitalization of $73.80 billion, a price-to-earnings ratio of 81.53, a P/E/G ratio of 1.10 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. 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%. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s payout ratio is currently 143.31%.

Insider Activity

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction 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 owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

APO has been the topic of several analyst reports. UBS Group increased their target price 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. TD Cowen reduced their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Piper Sandler lifted their target price on Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group decreased their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.