Alps Advisors Inc. Sells 4,376 Shares of Apollo Global Management Inc. (NYSE:APO)

Alps Advisors Inc. decreased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,220 shares of the financial services provider's stock after selling 4,376 shares during the period. Alps Advisors Inc.'s holdings in Apollo Global Management were worth $3,043,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of APO. Independent Advisor Alliance increased its stake in shares of Apollo Global Management by 78.0% in the fourth quarter. Independent Advisor Alliance now owns 3,438 shares of the financial services provider's stock worth $568,000 after purchasing an additional 1,506 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Apollo Global Management in the fourth quarter worth about $304,000. Farther Finance Advisors LLC increased its stake in shares of Apollo Global Management by 122.1% in the fourth quarter. Farther Finance Advisors LLC now owns 3,661 shares of the financial services provider's stock worth $605,000 after purchasing an additional 2,013 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Apollo Global Management by 18.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,065 shares of the financial services provider's stock worth $1,662,000 after purchasing an additional 1,551 shares in the last quarter. Finally, Tredje AP fonden purchased a new position in shares of Apollo Global Management in the fourth quarter worth about $3,303,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Down 0.7%

APO stock opened at $147.21 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The stock has a market capitalization of $84.13 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.62 and a beta of 1.59. The firm's fifty day simple moving average is $137.02 and its two-hundred day simple moving average is $144.06.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter last year, the firm earned $1.72 EPS. The company's revenue was down 21.2% on a year-over-year basis. As a group, analysts anticipate 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 given a dividend of $0.51 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.39%. Apollo Global Management's payout ratio is 35.73%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

APO has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. UBS Group cut their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Cowen restated a "buy" rating on shares of Apollo Global Management 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 company a "buy" rating in a research report on Friday, April 4th. Finally, Evercore ISI raised their price objective on shares of Apollo Global Management from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.00.

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.

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