Altus Wealth Group LLC Has $206,000 Stake in Apollo Global Management Inc. $APO

Key Points

• Altus Wealth Group LLC sharply cut its Apollo stake in the first quarter, selling 8,589 shares and reducing its holdings by 82.3% to 1,853 shares worth about $206,000.
• Insider John P. Zito sold shares on May 27, unloading 48,644 shares for about $6.36 million; after the sale, he still owned more than 3.06 million shares.
• Apollo reported mixed fundamentals but solid analyst support: it beat EPS expectations in its latest quarter, raised its dividend to $0.5625 per share, and Wall Street maintains a consensus rating of “Moderate Buy” with an average target price of $151.23.

Altus Wealth Group LLC reduced its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 82.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,853 shares of the financial services provider's stock after selling 8,589 shares during the period. Altus Wealth Group LLC's holdings in Apollo Global Management were worth $206,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of APO. Chesapeake Asset Management LLC increased its stake in Apollo Global Management by 3.6% in the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider's stock worth $299,000 after acquiring an additional 72 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider's stock valued at $1,383,000 after acquiring an additional 80 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 82 shares during the last quarter. United Advisor Group LLC grew its holdings in shares of Apollo Global Management by 4.7% during the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock worth $282,000 after purchasing an additional 87 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. grew its holdings in shares of Apollo Global Management by 3.8% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider's stock worth $346,000 after purchasing an additional 87 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company's stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $118.71 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The firm has a market cap of $68.44 billion, a PE ratio of 75.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.50. The business has a 50 day moving average price of $128.79 and a 200-day moving average price of $126.95.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8.26 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 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management's payout ratio is currently 143.31%.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of recent analyst reports. Evercore reaffirmed an "outperform" rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Barclays boosted their price target on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Finally, Piper Sandler lifted their price objective on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Company 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.

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