Senator Investment Group LP Sells 69,757 Shares of Apollo Global Management Inc. $APO

Key Points

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Senator Investment Group LP lessened its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 18.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 305,243 shares of the financial services provider's stock after selling 69,757 shares during the period. Apollo Global Management makes up 2.2% of Senator Investment Group LP's investment portfolio, making the stock its 19th largest holding. Senator Investment Group LP owned 0.05% of Apollo Global Management worth $41,800,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Apollo Global Management by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after acquiring an additional 7,441 shares during the period. Clearview Wealth Advisors LLC lifted its stake in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after purchasing an additional 17,418 shares during the period. Toronto Dominion Bank lifted its stake in shares of Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after purchasing an additional 110,014 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Apollo Global Management in the first quarter valued at about $871,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Apollo Global Management in the first quarter valued at about $492,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

APO has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. UBS Group reduced 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 note on Thursday, May 1st. Piper Sandler reduced 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 note on Monday, May 5th. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Citigroup raised their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.28.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Up 0.0%

Shares of NYSE:APO traded up $0.0650 during midday trading on Friday, reaching $134.0750. The company had a trading volume of 3,419,831 shares, compared to its average volume of 3,279,031. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock's fifty day moving average price is $142.91 and its 200-day moving average price is $139.50. The stock has a market capitalization of $76.69 billion, a P/E ratio of 25.06, a PEG ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. Equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management's dividend payout ratio is currently 38.13%.

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.