BI Asset Management Fondsmaeglerselskab A S Has $8.55 Million Holdings in Apollo Global Management Inc. $APO

Key Points

• BI Asset Management cut its Apollo Global Management stake by 39% in the fourth quarter, selling 37,745 shares and ending with 59,060 shares valued at about $8.55 million.
• Several other institutional investors increased holdings in APO, and institutions now own 77.06% of the company, while insider John P. Zito sold 48,644 shares in late May.
• Analysts remain broadly positive on Apollo: the stock has a Moderate Buy consensus with an average target price of $151.23, and the company recently raised its quarterly dividend to $0.5625 per share.

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,060 shares of the financial services provider's stock after selling 37,745 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Apollo Global Management were worth $8,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of APO. Plato Investment Management Ltd raised its holdings in Apollo Global Management by 100.3% in the 3rd quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider's stock worth $1,440,000 after acquiring an additional 5,452 shares during the period. NEOS Investment Management LLC raised its holdings in Apollo Global Management by 48.7% in the 3rd quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider's stock worth $6,997,000 after acquiring an additional 17,204 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Apollo Global Management by 11.0% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider's stock worth $120,017,000 after acquiring an additional 89,439 shares during the period. Cornerstone Investment Partners LLC raised its holdings in Apollo Global Management by 23.6% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider's stock worth $84,029,000 after acquiring an additional 120,558 shares during the period. Finally, Swiss National Bank raised its holdings in Apollo Global Management by 4.0% in the 3rd quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider's stock worth $167,562,000 after acquiring an additional 48,400 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APO shares. Argus upgraded shares of Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. Piper Sandler boosted their price objective on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. UBS Group boosted their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Morgan Stanley dropped their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group dropped their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $128.01 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm's 50-day simple moving average is $122.81 and its 200-day simple moving average is $127.80. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $157.28. The firm has a market cap of $73.80 billion, a P/E ratio of 81.53, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. Apollo Global Management's revenue was down 8.8% compared to the same quarter last year. As a group, research analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management's payout ratio is currently 143.31%.

Apollo Global Management Profile

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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