KBC Group NV Sells 13,969 Shares of Apollo Global Management Inc. $APO

Key Points

• KBC Group NV reduced its stake in Apollo Global Management by 6.1% in the first quarter, selling 13,969 shares and leaving it with 215,364 shares valued at about $24.0 million.
• Analysts remain broadly positive on Apollo, with a consensus rating of “Moderate Buy” and an average price target of $149.08. Recent firms including Deutsche Bank, UBS, HSBC, and Piper Sandler reiterated or initiated bullish views.
• Apollo reported Q1 EPS of $1.94, topping estimates, and raised its quarterly dividend to $0.5625 per share from $0.51. The stock was trading around $118.42, below its 52-week high of $153.43.

KBC Group NV lowered its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,364 shares of the financial services provider's stock after selling 13,969 shares during the period. KBC Group NV's holdings in Apollo Global Management were worth $23,996,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Mitchell & Pahl Private Wealth LLC raised its holdings in Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider's stock valued at $1,383,000 after buying an additional 80 shares during the period. Sunbelt Securities Inc. grew its position in shares of Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock worth $75,000 after buying an additional 82 shares in the last quarter. United Advisor Group LLC increased its position in Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 87 shares during the period. Broadway Wealth Solutions Inc. lifted its position in shares of Apollo Global Management by 3.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider's stock worth $346,000 after purchasing an additional 87 shares during the period. Finally, First Horizon Corp lifted its position in shares of Apollo Global Management by 8.1% in the 4th quarter. First Horizon Corp now owns 1,228 shares of the financial services provider's stock worth $178,000 after purchasing an additional 92 shares during the period. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on APO shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a report on Thursday, May 7th. Morgan Stanley dropped their target price on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Tuesday. UBS Group lifted their price target on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a report on Friday, May 8th. HSBC assumed coverage on Apollo Global Management in a research note on Monday. They set a "buy" rating and a $145.00 price objective for the company. Finally, Piper Sandler dropped their price objective on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $149.08.

Insiders Place Their Bets

In other news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction dated 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 sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company's stock.

Apollo Global Management Trading Up 0.2%

NYSE:APO opened at $118.42 on Wednesday. The stock has a market capitalization of $68.27 billion, a price-to-earnings ratio of 75.43, a PEG ratio of 1.03 and a beta of 1.50. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.43. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $127.01 and a 200 day moving average of $124.52.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business's quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.22 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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