BI Asset Management Fondsmaeglerselskab A S Sells 40,548 Shares of Apollo Global Management Inc. $APO

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its stake in Apollo Global Management Inc. by 64.3%, selling 40,548 shares and leaving it with 22,476 shares valued at approximately $3.08 million.
• Apollo Global Management recently reported earnings of $1.92 per share, surpassing analysts' expectations, with a total revenue of $6.55 billion for the quarter.
• The company is distributing a quarterly dividend of $0.51 per share on August 29th, yielding 1.5% annually, reflecting a payout ratio of 38.13%.

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 64.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,476 shares of the financial services provider's stock after selling 40,548 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Apollo Global Management were worth $3,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of APO. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $25,000. GW&K Investment Management LLC raised its position in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management during the first quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. increased its stake in Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after acquiring an additional 172 shares during the period. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $135.3990 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market cap of $77.45 billion, a PE ratio of 25.31, a P/E/G ratio of 1.48 and a beta of 1.62. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The business's 50-day moving average price is $142.95 and its two-hundred day moving average price is $139.93.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period last year, the company posted $1.64 EPS. As a group, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APO shares. Piper Sandler cut their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Evercore ISI upped their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Citigroup increased their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Wells Fargo & Company boosted their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $163.28.

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.

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