Bessemer Group Inc. Reduces Stock Holdings in Apollo Global Management Inc. $APO

Bessemer Group Inc. cut its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 99.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,466 shares of the financial services provider’s stock after selling 1,528,182 shares during the period. Bessemer Group Inc.’s holdings in Apollo Global Management were worth $943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Schnieders Capital Management LLC. purchased a new stake in shares of Apollo Global Management during the second quarter valued at approximately $7,954,000. Baird Financial Group Inc. boosted its stake in shares of Apollo Global Management by 117.5% in the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock valued at $2,287,000 after purchasing an additional 8,709 shares during the period. Gamco Investors INC. ET AL grew its holdings in Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Apollo Global Management during the 2nd quarter valued at $722,000. Finally, Northern Right Capital Management L.P. increased its stake in Apollo Global Management by 1.5% during the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock worth $24,542,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO stock opened at $119.15 on Friday. The stock has a market capitalization of $68.69 billion, a price-to-earnings ratio of 75.89, a PEG ratio of 1.04 and a beta of 1.50. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.43. The company’s 50-day simple moving average is $126.43 and its 200-day simple moving average is $124.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the company earned $1.82 earnings per share. Apollo Global Management’s quarterly revenue was down 8.8% on a year-over-year basis. Equities analysts anticipate that Apollo Global Management Inc. will post 8.19 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. 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 equities analysts have commented on APO shares. HSBC began coverage on shares of Apollo Global Management in a report on Monday. They issued a “buy” rating and a $145.00 price objective on the stock. Piper Sandler cut their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. BMO Capital Markets dropped their price objective on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.08.

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.