Jennison Associates LLC Has $47.46 Million Stake in Apollo Global Management Inc. (NYSE:APO)

Jennison Associates LLC decreased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 53.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,586 shares of the financial services provider's stock after selling 393,352 shares during the period. Jennison Associates LLC owned about 0.06% of Apollo Global Management worth $47,461,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Harbour Investments Inc. boosted its position in shares of Apollo Global Management by 154.0% in the fourth quarter. Harbour Investments Inc. now owns 409 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 248 shares during the period. Vinva Investment Management Ltd acquired a new position in shares of Apollo Global Management in the fourth quarter valued at $307,000. Douglass Winthrop Advisors LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at $206,000. Quantbot Technologies LP acquired a new position in shares of Apollo Global Management in the fourth quarter valued at $1,966,000. Finally, Virtu Financial LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at $1,491,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

APO has been the subject of a number of research reports. Piper Sandler lowered their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Citigroup boosted their target price on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Raymond James Financial initiated coverage on Apollo Global Management in a research note on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective on the stock. UBS Group dropped their price target on 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. Finally, Cowen restated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.00.

Apollo Global Management Price Performance

NYSE APO opened at $152.19 on Friday. The company has a market capitalization of $86.98 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The business's fifty day moving average is $138.96 and its 200 day moving average is $143.25. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter last year, the firm posted $1.72 earnings per share. Apollo Global Management's revenue for the quarter was down 21.2% on a year-over-year basis. Sell-side analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.51 per share. 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 1.34%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's payout ratio is presently 35.73%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer owned 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.20% of the stock is owned by insiders.

Apollo Global Management 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.

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