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

Allspring Global Investments Holdings LLC reduced its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,231 shares of the financial services provider's stock after selling 48,198 shares during the period. Allspring Global Investments Holdings LLC's holdings in Apollo Global Management were worth $7,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in Apollo Global Management during the fourth quarter worth about $25,000. ORG Partners LLC increased its position in Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in Apollo Global Management during the fourth quarter worth about $33,000. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management during the first quarter worth about $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management during the fourth quarter worth about $45,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 4,000 shares of the company'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 transaction, the chief financial officer owned 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays raised their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Bank of America raised 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. Piper Sandler cut their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Morgan Stanley cut their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Price Performance

APO stock traded up $1.95 during trading on Friday, hitting $144.73. The company had a trading volume of 1,402,169 shares, compared to its average volume of 3,929,061. The firm has a market capitalization of $82.71 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 1.50 and a beta of 1.59. The business has a 50 day moving average of $136.13 and a 200 day moving average of $144.93. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period in the previous year, the company posted $1.72 earnings per share. Apollo Global Management's revenue was down 21.2% compared to the same quarter last year. As a group, research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.51 per share. The ex-dividend date 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 currently 35.73%.

Apollo Global Management Company Profile

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.