GTS Securities LLC Sells 89,243 Shares of Apollo Global Management, Inc. (NYSE:APO)

GTS Securities LLC trimmed its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 96.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,250 shares of the financial services provider's stock after selling 89,243 shares during the period. GTS Securities LLC's holdings in Apollo Global Management were worth $537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of APO. Fourth Dimension Wealth LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $25,000. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the 4th quarter worth approximately $34,000. Byrne Asset Management LLC purchased a new position in Apollo Global Management during the 4th quarter worth approximately $37,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management during the 4th quarter valued at $45,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

NYSE APO traded up $0.24 during trading hours on Thursday, reaching $131.75. 2,054,027 shares of the company's stock were exchanged, compared to its average volume of 3,937,608. The firm has a fifty day moving average of $132.20 and a 200-day moving average of $151.54. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a market cap of $75.29 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same period in the prior year, the firm earned $1.72 earnings per share. The business's quarterly revenue was down 21.2% compared to the same quarter last year. On average, equities research analysts predict that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. Apollo Global Management's dividend payout ratio is presently 35.73%.

Insider Activity

In other news, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on APO shares. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. 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 note on Monday, May 5th. Keefe, Bruyette & Woods cut their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Barclays boosted their target price on Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management 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.