Concentric Capital Strategies LP Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Concentric Capital Strategies LP reduced its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 58.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,746 shares of the financial services provider's stock after selling 20,642 shares during the quarter. Concentric Capital Strategies LP's holdings in Apollo Global Management were worth $2,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. lifted its stake in Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 71 shares in the last quarter. Tower Wealth Partners Inc. grew its position in Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 74 shares in the last quarter. Global Retirement Partners LLC increased its stake in Apollo Global Management by 0.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider's stock valued at $1,639,000 after buying an additional 90 shares during the last quarter. Westmount Partners LLC lifted its position in Apollo Global Management by 1.8% during the 4th quarter. Westmount Partners LLC now owns 5,091 shares of the financial services provider's stock worth $841,000 after buying an additional 91 shares in the last quarter. Finally, WR Wealth Planners LLC increased its position in shares of Apollo Global Management by 25.3% in the fourth quarter. WR Wealth Planners LLC now owns 455 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 92 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on APO shares. Raymond James began coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Cowen restated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Finally, Citigroup cut their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. 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's stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $157.89.

Apollo Global Management Stock Performance

Shares of APO traded down $0.70 during trading hours on Friday, hitting $132.49. The company's stock had a trading volume of 2,734,832 shares, compared to its average volume of 3,880,967. The business has a 50 day simple moving average of $131.82 and a two-hundred day simple moving average of $152.55. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $75.58 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same period last year, the company posted $1.72 EPS. The business's revenue for the quarter was down 21.2% on a year-over-year basis. On average, equities analysts expect that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.54%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 509,000 shares of company stock valued at $72,321,680. Company insiders own 8.50% of the company's stock.

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.