Apollo Global Management Inc. (NYSE:APO) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Apollo Global Management by 30.8% in Q1, selling 41,600 shares and holding 93,600 shares valued at approximately $12.8 million after the sale.
• Institutional investors and hedge funds own 77.06% of Apollo Global Management's stock, highlighting significant institutional interest in the company.
• Despite recent selling, Apollo reported a positive earnings per share of $1.92, exceeding analyst estimates, along with a quarterly dividend of $0.51 expected on August 29th.

Forsta AP Fonden reduced its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,600 shares of the financial services provider's stock after selling 41,600 shares during the period. Forsta AP Fonden's holdings in Apollo Global Management were worth $12,818,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position 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 valued at $75,347,000 after purchasing an additional 7,441 shares during the last quarter. Clearview Wealth Advisors LLC increased its position in shares of Apollo Global Management by 420.7% in the 1st 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 last quarter. Toronto Dominion Bank increased its position in shares of Apollo Global Management by 209.0% in the 4th 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 last quarter. Sowell Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at approximately $871,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at approximately $492,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.50% of the company's stock.

Analyst Ratings Changes

APO has been the topic of a number of recent analyst reports. Wells Fargo & Company increased 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 report on Friday, July 11th. Morgan Stanley dropped their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Piper Sandler dropped their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group dropped their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.26.

Apollo Global Management Stock Performance

Apollo Global Management stock traded up $2.51 during midday trading on Tuesday, hitting $144.63. 2,913,189 shares of the company's stock were exchanged, compared to its average volume of 3,622,856. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market cap of $82.66 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. The firm's 50 day simple moving average is $142.05 and its 200 day simple moving average is $141.00.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $1.64 EPS. Equities research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Apollo Global Management Company Profile

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.