Brookstone Capital Management Sells 16,068 Shares of Apollo Global Management Inc. $APO

Key Points

• Brookstone Capital Management sharply reduced its Apollo Global Management stake by 88.1% in the first quarter, selling 16,068 shares and leaving it with 2,166 shares worth about $241,000.
• Several other institutions increased their holdings, and 77.06% of Apollo’s stock is owned by institutional investors and hedge funds; meanwhile, insider John P. Zito sold 48,644 shares in late May.
• Analysts remain broadly positive on Apollo, with a Moderate Buy consensus and average price target of $151.23, while the company recently beat EPS estimates, raised its quarterly dividend to $0.5625, and was trading at $115.03 per share.

Brookstone Capital Management decreased its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 88.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,166 shares of the financial services provider's stock after selling 16,068 shares during the quarter. Brookstone Capital Management's holdings in Apollo Global Management were worth $241,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in shares of Apollo Global Management by 25.8% during the 1st quarter. SG Americas Securities LLC now owns 170,312 shares of the financial services provider's stock worth $18,976,000 after purchasing an additional 34,917 shares in the last quarter. Evolve Private Wealth LLC increased its holdings in shares of Apollo Global Management by 35.9% during the first quarter. Evolve Private Wealth LLC now owns 2,953 shares of the financial services provider's stock worth $329,000 after buying an additional 780 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Apollo Global Management by 12.4% during the first quarter. Quotient Wealth Partners LLC now owns 2,783 shares of the financial services provider's stock worth $310,000 after buying an additional 306 shares in the last quarter. Founders Financial Securities LLC raised its stake in shares of Apollo Global Management by 67.7% in the first quarter. Founders Financial Securities LLC now owns 24,422 shares of the financial services provider's stock valued at $2,613,000 after acquiring an additional 9,861 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Apollo Global Management by 28.5% in the first quarter. Diversified Trust Co now owns 54,644 shares of the financial services provider's stock valued at $6,088,000 after acquiring an additional 12,135 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.30% of the company's stock.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of research analyst reports. UBS Group increased their price target on Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Wall Street Zen cut Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. TD Cowen cut their price target on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Finally, Piper Sandler raised their price objective on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Price Performance

Shares of APO stock opened at $115.03 on Tuesday. The firm has a market cap of $66.32 billion, a price-to-earnings ratio of 73.27, a PEG ratio of 1.02 and a beta of 1.50. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $129.48 and a 200 day moving average price of $127.66.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $5.19 billion. During the same period in the prior year, the company posted $1.82 EPS. The company's revenue was down 8.8% compared to the same quarter last year. Research analysts expect that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 2.0%. Apollo Global Management's payout ratio is currently 143.31%.

Apollo Global Management Company 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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