BI Asset Management Fondsmaeglerselskab A S Sells 48,788 Shares of Apollo Global Management Inc. $APO

Key Points

• BI Asset Management Fondsmaeglerselskab A S sharply reduced its Apollo Global Management stake by 82.6% in Q1, selling 48,788 shares and leaving it with 10,272 shares worth about $1.145 million.
• Apollo reported stronger-than-expected earnings, posting $1.94 EPS versus the $1.89 estimate, though quarterly revenue of $5.06 billion came in below expectations and fell 8.8% year over year.
• The company increased its quarterly dividend to $0.5625 per share from $0.51, while analysts currently view the stock as a “Moderate Buy” with an average price target of $151.23.

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 82.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,272 shares of the financial services provider's stock after selling 48,788 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Apollo Global Management were worth $1,145,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in APO. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management in the fourth quarter valued at about $29,000. Osbon Capital Management LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $36,000. Physician Wealth Advisors Inc. boosted its stake in Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after purchasing an additional 96 shares during the period. Greykasell Wealth Strategies Inc. bought a new position in Apollo Global Management in the 4th quarter worth approximately $42,000. Finally, City Holding Co. grew its holdings in Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $122.67 on Thursday. 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 $129.50 and its 200-day simple moving average is $128.11. The firm has a market cap of $70.72 billion, a PE ratio of 78.14, a price-to-earnings-growth ratio of 1.12 and a beta of 1.50. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $1.82 EPS. The firm's quarterly revenue was down 8.8% on a year-over-year basis. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APO. Royal Bank Of Canada lifted their price target on shares of Apollo Global Management from $139.00 to $146.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Morgan Stanley decreased their price objective on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. BMO Capital Markets cut their target price on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating for the company in a report on Tuesday, March 24th. Evercore restated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, Piper Sandler lifted their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $151.23.

Insider Buying and Selling at Apollo Global Management

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

About Apollo Global Management

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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