Apollo Global Management Inc. $APO Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 260,401 shares of the financial services provider’s stock after selling 7,627 shares during the quarter. Apollo Global Management comprises 0.9% of EverSource Wealth Advisors LLC’s holdings, making the stock its 21st largest position. EverSource Wealth Advisors LLC’s holdings in Apollo Global Management were worth $29,014,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Boston Partners increased its holdings in shares of Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after acquiring an additional 1,692,532 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after purchasing an additional 1,614,813 shares in the last quarter. Focus Partners Wealth boosted its stake in Apollo Global Management by 2,560.3% in the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock worth $203,324,000 after purchasing an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC grew its position in Apollo Global Management by 271.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock worth $148,255,000 after purchasing an additional 748,697 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Apollo Global Management by 5,321.9% during the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock worth $79,845,000 after purchasing an additional 541,397 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the firm’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 owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 0.4%

NYSE APO opened at $124.80 on Wednesday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The firm has a 50 day moving average of $125.85 and a two-hundred day moving average of $123.62. The stock has a market capitalization of $71.95 billion, a PE ratio of 79.49, a price-to-earnings-growth ratio of 1.08 and a beta of 1.50. 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 (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was down 8.8% compared to the same quarter last year. As a group, research analysts expect that Apollo Global Management Inc. will post 8.19 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced 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 represents a $2.25 dividend on an annualized basis and a dividend yield of 1.8%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s payout ratio is presently 143.31%.

Analysts Set New Price Targets

A number of research firms have issued reports on APO. TD Cowen decreased their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a report on Monday, May 18th. Barclays boosted their price objective on shares of Apollo Global Management from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Evercore reissued an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. BMO Capital Markets reduced their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Apollo Global Management from a “sell” rating to a “strong sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.