Motco Has $12.17 Million Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Motco reduced its stake in Apollo Global Management by 2.3%, owning a total of 88,881 shares, which now represents 1.3% of its portfolio.
• The company's recent earnings report showed a slight miss on earnings per share at $1.82, compared to the estimate of $1.84, along with a year-over-year revenue decline of 21.2%.
• Apollo Global Management recently increased its quarterly dividend to $0.51 per share, reflecting a positive change from the previous $0.46, with a dividend yield of 1.35%.

Motco reduced its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,881 shares of the financial services provider's stock after selling 2,050 shares during the period. Apollo Global Management comprises about 1.3% of Motco's investment portfolio, making the stock its 20th biggest position. Motco's holdings in Apollo Global Management were worth $12,171,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in shares of Apollo Global Management by 29.9% in the fourth quarter. LPL Financial LLC now owns 276,834 shares of the financial services provider's stock valued at $45,722,000 after buying an additional 63,742 shares during the period. EntryPoint Capital LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $270,000. Korea Investment CORP lifted its stake in shares of Apollo Global Management by 79.0% during the 4th quarter. Korea Investment CORP now owns 254,523 shares of the financial services provider's stock worth $42,037,000 after buying an additional 112,300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Apollo Global Management by 155.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 670,065 shares of the financial services provider's stock worth $113,281,000 after buying an additional 407,343 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in Apollo Global Management by 8.0% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 37,973 shares of the financial services provider's stock worth $6,289,000 after acquiring an additional 2,813 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 0.5%

Shares of APO stock traded down $0.77 during mid-day trading on Wednesday, hitting $147.05. 716,905 shares of the company's stock were exchanged, compared to its average volume of 3,604,608. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The stock has a market cap of $84.04 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.67 and a beta of 1.59. 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 stock has a 50-day simple moving average of $139.90 and a two-hundred day simple moving average of $142.59.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm's quarterly revenue was down 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is 35.73%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer directly owned 373,164 shares of the company's stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America raised their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. UBS Group lowered 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. Barclays boosted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler cut their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Citigroup upped their price objective 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $161.00.

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.