Brookstone Capital Management Sells 16,068 Shares of Apollo Global Management Inc. $APO

Brookstone Capital Management reduced its holdings in Apollo Global Management Inc. (NYSE:APO) by 88.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,166 shares of the financial services provider’s stock after selling 16,068 shares during the quarter. Brookstone Capital Management’s holdings in Apollo Global Management were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of APO. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management during the 4th quarter worth approximately $29,000. Osbon Capital Management LLC bought a new position in Apollo Global Management in the fourth quarter valued at approximately $36,000. Physician Wealth Advisors Inc. boosted its holdings in shares of 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. Greykasell Wealth Strategies Inc. acquired a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $42,000. Finally, City Holding Co. increased its position in shares of Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 243 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on APO shares. Royal Bank Of Canada increased their target price on Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. TD Cowen reduced their price objective on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Piper Sandler increased their price objective on Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.23.

Apollo Global Management Stock Down 2.8%

Apollo Global Management stock opened at $115.03 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 company’s 50-day moving average is $129.48 and its 200-day moving average is $127.66. The firm has a market capitalization of $66.32 billion, a PE ratio of 73.27, a P/E/G ratio of 1.02 and a beta of 1.50. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the business posted $1.82 EPS. Apollo Global Management’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given 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 dividend on an annualized basis and a dividend yield of 2.0%. Apollo Global Management’s payout ratio is 143.31%.

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.