Flputnam Investment Management Co. Sells 9,525 Shares of Apollo Global Management Inc. $APO

Key Points

• Flputnam Investment Management reduced its stake in Apollo Global Management by 4.0% in the fourth quarter, selling 9,525 shares and leaving it with 230,245 shares valued at about $33.3 million.
• Apollo reported better-than-expected earnings for the quarter ended May 6, posting $1.94 EPS versus the $1.89 consensus, though revenue of $5.06 billion came in below expectations and fell 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share, up from $0.51, bringing the annualized payout to $2.25 and a yield of 1.7%.

Flputnam Investment Management Co. lessened its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,245 shares of the financial services provider's stock after selling 9,525 shares during the period. Flputnam Investment Management Co.'s holdings in Apollo Global Management were worth $33,330,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd raised its position in Apollo Global Management by 100.3% in the 3rd quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider's stock worth $1,440,000 after purchasing an additional 5,452 shares during the last quarter. NEOS Investment Management LLC raised its position in shares of Apollo Global Management by 48.7% during the 3rd quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider's stock valued at $6,997,000 after acquiring an additional 17,204 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Apollo Global Management by 11.0% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider's stock valued at $120,017,000 after acquiring an additional 89,439 shares during the last quarter. Cornerstone Investment Partners LLC raised its position in shares of Apollo Global Management by 23.6% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider's stock valued at $84,029,000 after acquiring an additional 120,558 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Apollo Global Management by 4.0% during the 3rd quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider's stock valued at $167,562,000 after acquiring an additional 48,400 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

APO opened at $129.99 on Wednesday. The company has a quick ratio of 1.73, a current 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 $157.28. The company has a fifty day simple moving average of $119.89 and a 200 day simple moving average of $127.95. The stock has a market cap of $74.94 billion, a P/E ratio of 82.80, a P/E/G ratio of 1.11 and a beta of 1.52.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 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 business had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm's quarterly revenue was down 8.8% on a year-over-year basis. On average, research analysts expect that Apollo Global Management Inc. will post 8.29 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be given a $0.5625 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's dividend payout ratio is currently 143.31%.

Analysts Set New Price Targets

Several analysts have commented on APO shares. The Goldman Sachs Group dropped their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Weiss Ratings cut shares of Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. BMO Capital Markets dropped 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 research report on Tuesday, March 24th. 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 research report on Monday, May 18th. Finally, Evercore reiterated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. One investment 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $151.23.

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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