Apollo Global Management Inc. (NYSE:APO) Shares Sold by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management reduced its stake in Apollo Global Management by 13.3%, now owning 120,107 shares valued at approximately $16.4 million.
• Apollo Global Management reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84, despite achieving $5.55 billion in revenue.
• The company's recent dividend increased from $0.46 to $0.51 per share, with a current annualized dividend yield of 1.37%.

Picton Mahoney Asset Management trimmed its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,107 shares of the financial services provider's stock after selling 18,366 shares during the period. Picton Mahoney Asset Management's holdings in Apollo Global Management were worth $16,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares during the period. Northern Trust Corp increased its stake in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares during the period. Finally, Allen Investment Management LLC grew its holdings in Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock valued at $361,664,000 after purchasing an additional 333,428 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE APO opened at $148.69 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The stock's fifty day moving average is $139.72 and its two-hundred day moving average is $142.55. The firm has a market capitalization of $84.97 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.59. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results 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). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period in the previous year, the firm posted $1.72 EPS. The company's revenue was down 21.2% compared to the same quarter last year. On average, research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.37%. Apollo Global Management's dividend payout ratio is 35.73%.

Analyst Upgrades and Downgrades

APO has been the topic of a number of recent analyst reports. UBS Group decreased their target price on 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. Piper Sandler decreased 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 report on Monday, May 5th. TD Cowen cut their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Bank of America lifted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $161.00.

Insider Activity

In other news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction that occurred 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 owned 373,164 shares of the company's stock, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by corporate insiders.

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.

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