Exchange Traded Concepts LLC Sells 10,229 Shares of Apollo Global Management Inc. (NYSE:APO)

Exchange Traded Concepts LLC reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 70.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,343 shares of the financial services provider's stock after selling 10,229 shares during the quarter. Exchange Traded Concepts LLC's holdings in Apollo Global Management were worth $595,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $25,000. Hopwood Financial Services Inc. acquired a new position in Apollo Global Management in the fourth quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the fourth quarter worth approximately $34,000. HM Payson & Co. acquired a new position in Apollo Global Management in the fourth quarter worth approximately $45,000. Finally, Farmers & Merchants Investments Inc. acquired a new position in Apollo Global Management in the first quarter worth approximately $39,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APO has been the topic of a number of research reports. Citigroup dropped their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Barclays increased their price objective on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. TD Cowen dropped their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Piper Sandler dropped their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Wells Fargo & Company increased their price target on Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.

Insider Buying and Selling

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer now directly owns 373,164 shares of the company's stock, 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. 8.50% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded up $1.52 during midday trading on Friday, hitting $134.61. The company had a trading volume of 4,569,497 shares, compared to its average volume of 3,960,023. The business's 50 day simple moving average is $133.31 and its two-hundred day simple moving average is $146.96. The stock has a market cap of $76.93 billion, a PE ratio of 23.57, a P/E/G ratio of 1.39 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 announced 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). The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company's revenue was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

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.