Allspring Global Investments Holdings LLC Sells 48,198 Shares of Apollo Global Management Inc. (NYSE:APO)

Allspring Global Investments Holdings LLC trimmed its holdings in Apollo Global Management Inc. (NYSE:APO) by 46.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,231 shares of the financial services provider’s stock after selling 48,198 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Apollo Global Management were worth $7,781,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in APO. Fourth Dimension Wealth LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth about $25,000. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $33,000. ORG Partners LLC increased its holdings in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. HM Payson & Co. bought a new position in Apollo Global Management in the 4th quarter worth approximately $45,000. Finally, Farmers & Merchants Investments Inc. bought a new position in Apollo Global Management in the 1st quarter worth approximately $39,000. 77.06% of the stock is owned by institutional investors.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer directly owned 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on APO shares. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Morgan Stanley dropped their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Barclays raised their target price on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Raymond James Financial assumed coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target for the company. Finally, UBS Group cut their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.00.

Apollo Global Management Trading Up 1.4%

NYSE APO opened at $144.73 on Friday. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market cap of $82.71 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.50 and a beta of 1.59. The stock’s 50-day moving average is $136.13 and its 200-day moving average is $144.93.

Apollo Global Management (NYSE:APO) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.72 earnings per share. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.41%. Apollo Global Management’s dividend payout ratio is presently 35.73%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.