Apollo Global Management Inc. $APO Shares Sold by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC cut its Apollo Global Management stake by 98.2% in the fourth quarter, selling 1,273,976 shares and leaving it with 22,881 shares worth about $3.31 million.
• Other institutional investors also made changes to their Apollo holdings, and overall institutional ownership remains high at 77.06%. Insider John P. Zito also sold 48,644 shares in late May in a transaction worth about $6.36 million.
• Analysts remain mostly positive on APO, with a consensus rating of Moderate Buy and an average price target of $151.23. Apollo also beat quarterly EPS estimates, raised its dividend to $0.5625 per share, and shares recently traded at $137.85.

Kovitz Investment Group Partners LLC lessened its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 98.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,881 shares of the financial services provider's stock after selling 1,273,976 shares during the period. Kovitz Investment Group Partners LLC's holdings in Apollo Global Management were worth $3,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management during the fourth quarter worth about $29,000. Physician Wealth Advisors Inc. boosted its holdings in Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $42,000. City Holding Co. grew its stake in shares of Apollo Global Management by 391.9% in the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after buying an additional 243 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Apollo Global Management by 54.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider's stock worth $53,000 after buying an additional 129 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on APO shares. UBS Group upped their price objective on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a report on Friday, May 8th. Piper Sandler lifted their target price on Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Barclays upped their price target on Apollo Global Management from $125.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. The Goldman Sachs Group lowered their price target on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings downgraded Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.23.

Apollo Global Management Price Performance

Shares of APO opened at $137.85 on Friday. The company has a market cap of $79.47 billion, a P/E ratio of 87.80, a PEG ratio of 1.18 and a beta of 1.50. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average price is $128.15 and its 200 day moving average price is $128.24.

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

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.6%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is 143.31%.

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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