Apollo Global Management Inc. $APO Shares Sold by Allen Investment Management LLC

Key Points

• Allen Investment Management reduced its Apollo Global Management stake by 7% in the fourth quarter, selling 183,082 shares and leaving it with 2.42 million shares worth about $350 million.
• Apollo reported better-than-expected Q1 earnings of $1.94 per share, though revenue of $5.06 billion missed estimates and was down 8.8% from a year earlier.
• The company raised its quarterly dividend to $0.5625 per share, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $151.23.

Allen Investment Management LLC cut its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,418,178 shares of the financial services provider's stock after selling 183,082 shares during the quarter. Apollo Global Management accounts for about 3.9% of Allen Investment Management LLC's portfolio, making the stock its 9th biggest holding. Allen Investment Management LLC owned about 0.42% of Apollo Global Management worth $350,055,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. 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 valued at $299,000 after buying an additional 72 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider's stock worth $740,000 after purchasing an additional 78 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake 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 worth $1,383,000 after purchasing an additional 80 shares during the last quarter. Sunbelt Securities Inc. boosted its stake 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 worth $75,000 after acquiring an additional 82 shares during the period. Finally, United Advisor Group LLC lifted its stake in shares of Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock worth $282,000 after buying an additional 87 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO opened at $128.43 on Tuesday. The business has a 50-day moving average of $121.48 and a 200-day moving average of $127.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $74.04 billion, a price-to-earnings ratio of 81.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.50. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating 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 business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.8%. This is a boost 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 presently 143.31%.

Insider Transactions at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APO. JPMorgan Chase & Co. lowered their price target on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, February 10th. Argus upgraded Apollo Global Management to a "strong-buy" rating in a research note on Thursday, February 19th. Barclays raised their price target on Apollo Global Management from $125.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. BMO Capital Markets decreased their price objective on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 24th. Finally, UBS Group upped their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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