Bellwether Advisors LLC Sells 13,436 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• Bellwether Advisors LLC cut its stake in Apollo Global Management by 96.5% during the first quarter, now holding just 481 shares valued at $66,000.
• Several hedge funds have recently made moves regarding their Apollo holdings, with notable increases in stakes by GW&K Investment Management (up 84.5%) and ORG Partners LLC (up 285.0%).
• Apollo Global Management declared a quarterly dividend of $0.51 per share, representing an increase from the previous quarterly dividend and reflecting a strong payout ratio of 35.73%.

Bellwether Advisors LLC reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 96.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 481 shares of the financial services provider's stock after selling 13,436 shares during the period. Bellwether Advisors LLC's holdings in Apollo Global Management were worth $66,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $270,000. UniSuper Management Pty Ltd grew its position in Apollo Global Management by 208.7% in the 4th quarter. UniSuper Management Pty Ltd now owns 29,941 shares of the financial services provider's stock valued at $4,945,000 after acquiring an additional 20,241 shares in the last quarter. Blair William & Co. IL lifted its stake in Apollo Global Management by 9.6% in the fourth quarter. Blair William & Co. IL now owns 100,136 shares of the financial services provider's stock worth $16,538,000 after acquiring an additional 8,792 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Apollo Global Management by 22.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 269,113 shares of the financial services provider's stock valued at $44,447,000 after purchasing an additional 49,995 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Apollo Global Management by 12.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 172,195 shares of the financial services provider's stock worth $28,440,000 after purchasing an additional 19,381 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were 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 directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% of the company's stock.

Apollo Global Management Stock Performance

NYSE APO traded up $0.27 on Thursday, hitting $145.73. 1,292,379 shares of the stock traded hands, compared to its average volume of 3,597,601. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. 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 business's fifty day moving average is $140.19 and its two-hundred day moving average is $142.61. The firm has a market capitalization of $83.28 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.66 and a beta of 1.59.

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 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 analysts' expectations 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 company posted $1.72 earnings per share. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.51 dividend. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio is currently 35.73%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APO shares. Citigroup boosted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Piper Sandler lowered 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 research report on Monday, May 5th. Evercore ISI increased their price objective on Apollo Global Management from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. TD Cowen lowered their target price on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group cut their price target on 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.00.

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.