Hsbc Holdings PLC Cuts Stake in Apollo Global Management Inc. $APO

Key Points

• HSBC Holdings PLC reduced its stake in Apollo Global Management by 7% in the first quarter, selling 62,615 shares and ending with 831,836 shares worth about $92.8 million.
• Insider John P. Zito sold shares in late May, unloading 48,644 shares for about $6.36 million and trimming his ownership by 1.56%.
• Analyst sentiment remains generally positive, with an average “Moderate Buy” rating and a consensus target price of $149.50, even though several firms recently lowered price targets.

Hsbc Holdings PLC cut its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 831,836 shares of the financial services provider's stock after selling 62,615 shares during the quarter. Hsbc Holdings PLC owned 0.14% of Apollo Global Management worth $92,820,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APO. Boston Partners grew its holdings in shares of Apollo Global Management by 106.7% during the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock valued at $474,384,000 after purchasing an additional 1,692,532 shares during the last quarter. Focus Partners Wealth lifted its stake in Apollo Global Management by 2,560.3% in the fourth quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider's stock worth $203,324,000 after purchasing an additional 1,351,778 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Apollo Global Management by 271.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider's stock worth $148,255,000 after purchasing an additional 748,697 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in Apollo Global Management by 879.2% during the fourth quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider's stock valued at $109,055,000 after buying an additional 676,411 shares during the period. Finally, Wellington Management Group LLP boosted its position in Apollo Global Management by 5,321.9% during the fourth quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider's stock valued at $79,845,000 after buying an additional 541,397 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 3,063,696 shares of the company's stock, valued at approximately $400,302,519.36. The trade was 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 this hyperlink. Corporate insiders own 8.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank Of Canada decreased their price objective on Apollo Global Management from $146.00 to $137.00 and set a "sector perform" rating on the stock in a report on Monday, July 13th. UBS Group increased their target price on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a report on Friday, May 8th. TD Cowen reduced their price target on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Weiss Ratings cut Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Finally, Morgan Stanley lowered their price objective on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.50.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $120.51 on Monday. The company has a market cap of $69.48 billion, a price-to-earnings ratio of 76.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. The company has a 50-day moving average price of $127.52 and a 200-day moving average price of $124.90. 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 $156.89.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the firm earned $1.82 earnings per share. Apollo Global Management's quarterly revenue was down 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Apollo Global Management Inc. will post 8.23 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's dividend payout ratio is 143.31%.

Apollo Global Management 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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