Apollo Global Management Inc. (NYSE:APO) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 191,845 shares of the financial services provider's stock after selling 8,942 shares during the period. Janney Montgomery Scott LLC's holdings in Apollo Global Management were worth $26,271,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vontobel Holding Ltd. increased its position in shares of Apollo Global Management by 39.0% during the fourth quarter. Vontobel Holding Ltd. now owns 9,617 shares of the financial services provider's stock worth $1,588,000 after purchasing an additional 2,699 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Apollo Global Management in the fourth quarter worth about $249,000. Principal Securities Inc. grew its stake in shares of Apollo Global Management by 23.4% during the fourth quarter. Principal Securities Inc. now owns 3,834 shares of the financial services provider's stock worth $633,000 after acquiring an additional 727 shares during the last quarter. Allworth Financial LP raised its position in shares of Apollo Global Management by 26.1% in the 4th quarter. Allworth Financial LP now owns 919 shares of the financial services provider's stock valued at $155,000 after purchasing an additional 190 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in Apollo Global Management by 4.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 10,197 shares of the financial services provider's stock worth $1,684,000 after purchasing an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In other news, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction on Friday, April 4th. The stock was bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer now directly owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on APO shares. TD Cowen cut their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Cowen restated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Citigroup cut their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler decreased their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.00.

Apollo Global Management Trading Up 0.5%

NYSE:APO traded up $0.66 during trading hours on Thursday, reaching $133.02. 2,300,738 shares of the stock were exchanged, compared to its average volume of 3,949,072. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $133.14 and a two-hundred day moving average of $147.62. The company has a market capitalization of $76.02 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.37 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. Apollo Global Management's revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. On average, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.

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.