Envestnet Portfolio Solutions Inc. Trims Position in Apollo Global Management Inc. (NYSE:APO)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,944 shares of the financial services provider's stock after selling 4,743 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Apollo Global Management were worth $1,499,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ellevest Inc. grew its stake in Apollo Global Management by 1.5% during the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock worth $735,000 after buying an additional 67 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of Apollo Global Management by 2.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock worth $447,000 after acquiring an additional 71 shares during the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after acquiring an additional 71 shares during the period. Tower Wealth Partners Inc. raised its position in Apollo Global Management by 4.4% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 74 shares during the last quarter. Finally, Colonial Trust Co SC boosted its stake in Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO stock traded up $3.66 during midday trading on Friday, reaching $143.01. 8,387,628 shares of the company traded hands, compared to its average volume of 3,976,845. The firm's 50 day simple moving average is $134.22 and its two-hundred day simple moving average is $146.32. The firm has a market cap of $81.73 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period in the prior year, the firm posted $1.72 earnings per share. The business's revenue for the quarter was down 21.2% compared to the same quarter last year. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.43%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio is presently 35.73%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group dropped their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. Barclays increased their price target on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.00.

Insider Buying and Selling at Apollo Global Management

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% 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 insiders.

Apollo Global Management Company Profile

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.