Callodine Capital Management LP Sells 22,222 Shares of Apollo Global Management Inc. $APO

Key Points

• Callodine Capital Management cut its stake in Apollo Global Management by 4.8% in the first quarter, selling 22,222 shares and ending with 438,504 shares worth about $48.9 million.
• Apollo reported better-than-expected earnings for the quarter, posting $1.94 EPS versus $1.89 expected, though revenue came in below estimates and fell 8.8% from a year earlier.
• The company raised its quarterly dividend to $0.5625 per share, and analysts currently rate the stock a consensus Moderate Buy with an average price target of $149.08.

Callodine Capital Management LP lowered its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,504 shares of the financial services provider's stock after selling 22,222 shares during the quarter. Apollo Global Management comprises about 3.4% of Callodine Capital Management LP's holdings, making the stock its 10th biggest holding. Callodine Capital Management LP owned approximately 0.08% of Apollo Global Management worth $48,858,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC raised its position in Apollo Global Management by 0.8% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider's stock valued at $1,383,000 after purchasing an additional 80 shares during the period. Sunbelt Securities Inc. raised its holdings in Apollo Global Management by 16.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after buying an additional 82 shares during the period. United Advisor Group LLC lifted its position in Apollo Global Management by 4.7% in the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock valued at $282,000 after buying an additional 87 shares during the last quarter. Broadway Wealth Solutions Inc. lifted its position in Apollo Global Management by 3.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider's stock valued at $346,000 after buying an additional 87 shares during the last quarter. Finally, First Horizon Corp boosted its stake in Apollo Global Management by 8.1% during the fourth quarter. First Horizon Corp now owns 1,228 shares of the financial services provider's stock worth $178,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Up 3.0%

Shares of NYSE APO opened at $122.53 on Friday. The stock has a market cap of $70.64 billion, a P/E ratio of 78.04, a PEG ratio of 1.07 and a beta of 1.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The business's fifty day simple moving average is $126.18 and its 200-day simple moving average is $124.14.

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 return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business posted $1.82 earnings per share. Apollo Global Management's revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.19 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company's 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 in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company's stock.

Analysts Set New Price Targets

APO has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research report on Monday, July 20th. UBS Group increased their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. TD Cowen dropped their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a report on Monday, May 18th. Piper Sandler dropped their target price on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Finally, Wall Street Zen lowered Apollo Global Management from a "sell" rating to a "strong sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $149.08.

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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