Apollo Global Management Inc. (NYSE:APO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,586,844 shares of the financial services provider's stock after selling 53,914 shares during the period. Bank of New York Mellon Corp owned approximately 0.45% of Apollo Global Management worth $354,242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC increased its holdings in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Apollo Global Management by 36.9% in 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 purchasing an additional 1,739,807 shares in the last quarter. Northern Trust Corp increased its holdings in 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. Finally, Massachusetts Financial Services Co. MA increased 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 valued at $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of NYSE APO traded up $0.46 during mid-day trading on Tuesday, hitting $141.99. The company had a trading volume of 269,997 shares, compared to its average volume of 3,737,393. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a market cap of $81.15 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.50 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. The firm's 50 day simple moving average is $136.23 and its two-hundred day simple moving average is $144.39.

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 analysts' consensus estimates of $1.84 by ($0.02). The company 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 business's quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 earnings per share. As a group, equities research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given 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 yield of 1.44%. Apollo Global Management's dividend payout ratio is 35.73%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Citigroup decreased their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Raymond James Financial began coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. Finally, TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $159.00.

Insider Activity at Apollo Global Management

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 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.20% of the company's stock.

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.