Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its position in shares of Apollo Global Management, Inc. (NYSE:APOFree Report) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,829 shares of the financial services provider’s stock after selling 4,522 shares during the quarter. Corient Private Wealth LLC’s holdings in Apollo Global Management were worth $18,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth about $31,000. Blue Trust Inc. boosted its position in Apollo Global Management by 151.4% during the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 221 shares during the last quarter. CVA Family Office LLC acquired a new position in Apollo Global Management during the fourth quarter worth about $34,000. Vestmark Advisory Solutions Inc. acquired a new position in Apollo Global Management during the fourth quarter worth about $36,000. Finally, Hanseatic Management Services Inc. acquired a new position in Apollo Global Management during the third quarter worth about $39,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on APO shares. Jefferies Financial Group lowered their price target on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Evercore ISI boosted their target price on shares of Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Citigroup boosted their target price on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Finally, BMO Capital Markets boosted their target price on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.62.

Read Our Latest Stock Analysis on APO

Apollo Global Management Stock Performance

Shares of APO stock traded up $2.64 during mid-day trading on Friday, hitting $115.52. The stock had a trading volume of 1,944,715 shares, compared to its average volume of 2,085,430. Apollo Global Management, Inc. has a fifty-two week low of $62.97 and a fifty-two week high of $117.15. The firm has a market cap of $65.63 billion, a PE ratio of 12.79, a PEG ratio of 0.93 and a beta of 1.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The company’s 50-day simple moving average is $111.89 and its 200-day simple moving average is $103.09.

Apollo Global Management (NYSE:APOGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). The company had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. Sell-side analysts anticipate that Apollo Global Management, Inc. will post 7.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the sale, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

About Apollo Global Management

(Free Report)

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

See Also

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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