Apollo Global Management Inc. $APO Shares Sold by Zhang Financial LLC

Key Points

• Zhang Financial LLC cut its Apollo Global Management stake by 34.7% in the first quarter, selling 10,097 shares and leaving it with 19,023 shares valued at about $2.12 million.
• Apollo reported Q1 earnings of $1.94 per share, beating estimates, while revenue came in at $5.06 billion, slightly below expectations and down 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, and analysts currently rate the stock Moderate Buy with an average price target of $149.50.

Zhang Financial LLC trimmed its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 34.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,023 shares of the financial services provider's stock after selling 10,097 shares during the quarter. Zhang Financial LLC's holdings in Apollo Global Management were worth $2,119,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Swiss Life Asset Management Ltd increased its stake in shares of Apollo Global Management by 26.0% in the third quarter. Swiss Life Asset Management Ltd now owns 48,201 shares of the financial services provider's stock worth $6,424,000 after buying an additional 9,936 shares during the last quarter. Legal & General Group Plc raised its holdings in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock valued at $522,850,000 after acquiring an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC bought a new position in Apollo Global Management during the 4th quarter valued at $1,599,000. Asset Management One Co. Ltd. boosted its stake in Apollo Global Management by 6.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider's stock valued at $27,936,000 after acquiring an additional 10,876 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock worth $6,913,826,000 after acquiring an additional 340,956 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

APO has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Barclays lifted their price target on Apollo Global Management from $131.00 to $132.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Piper Sandler lowered their price objective on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Finally, Weiss Ratings cut Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.50.

Apollo Global Management Trading Down 2.3%

Shares of NYSE:APO opened at $120.51 on Friday. 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 company's 50-day moving average price is $127.52 and its 200 day moving average price is $125.06. The company has a market cap of $69.48 billion, a PE ratio of 76.76, a P/E/G ratio of 1.07 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 $156.89.

Apollo Global Management (NYSE:APO - Get Free Report) last posted 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. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Apollo Global Management's quarterly revenue was down 8.8% on a year-over-year basis. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8.23 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. 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. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management's dividend payout ratio is currently 143.31%.

Insider Transactions at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by company insiders.

Apollo Global Management 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.