Beach Investment Counsel Inc. PA Has $12.05 Million Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Beach Investment Counsel Inc. PA lessened its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,017 shares of the financial services provider's stock after selling 51,381 shares during the period. Apollo Global Management comprises 1.8% of Beach Investment Counsel Inc. PA's portfolio, making the stock its 19th biggest holding. Beach Investment Counsel Inc. PA's holdings in Apollo Global Management were worth $12,053,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC raised its holdings in Apollo Global Management by 5.2% in the 1st quarter. Miracle Mile Advisors LLC now owns 15,552 shares of the financial services provider's stock valued at $2,130,000 after acquiring an additional 766 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Apollo Global Management by 14.0% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,674 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 205 shares during the period. UMB Bank n.a. raised its stake in shares of Apollo Global Management by 223.7% in the first quarter. UMB Bank n.a. now owns 903 shares of the financial services provider's stock valued at $124,000 after purchasing an additional 624 shares in the last quarter. Wedmont Private Capital lifted its position in Apollo Global Management by 23.2% in the first quarter. Wedmont Private Capital now owns 6,321 shares of the financial services provider's stock worth $796,000 after purchasing an additional 1,189 shares during the period. Finally, Regent Peak Wealth Advisors LLC lifted its position in Apollo Global Management by 2.7% in the first quarter. Regent Peak Wealth Advisors LLC now owns 4,499 shares of the financial services provider's stock worth $616,000 after purchasing an additional 118 shares during the period. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 0.1%

NYSE:APO traded up $0.10 on Monday, hitting $133.55. 1,728,954 shares of the stock were exchanged, compared to its average volume of 3,935,717. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company's 50-day moving average price is $130.66 and its 200 day moving average price is $149.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $76.32 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.17 and a beta of 1.59.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The business 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 13.97% and a net margin of 17.53%. Apollo Global Management's revenue was down 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 EPS. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.53%. 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 currently 35.73%.

Analysts Set New Price Targets

APO has been the subject of a number of recent research reports. Piper Sandler dropped their price objective 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. Raymond James assumed 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 target for the company. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Citigroup lowered their price objective on 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, TD Cowen cut their target price on 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 given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction 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 trade represents a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 4,000 shares of the 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 completion of the sale, the chief financial officer now owns 373,164 shares in the company, 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. Insiders own 8.20% of the company's stock.

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.