Leavell Investment Management Inc. Sells 2,200 Shares of Apollo Global Management Inc. (NYSE:APO)

Leavell Investment Management Inc. reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,950 shares of the financial services provider's stock after selling 2,200 shares during the quarter. Leavell Investment Management Inc.'s holdings in Apollo Global Management were worth $541,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APO. Vanguard Group Inc. raised its stake in shares of Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after buying an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after buying an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Apollo Global Management by 36.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after buying an additional 1,739,807 shares in the last quarter. Northern Trust Corp raised its stake in shares of Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after buying an additional 1,460,689 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after buying an additional 1,886,146 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 $49,470,351.48. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on APO. Piper Sandler dropped their target price on shares of 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. Morgan Stanley dropped their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Citigroup increased their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday. UBS Group dropped their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $161.00.

Apollo Global Management Trading Down 0.7%

Shares of NYSE APO traded down $1.00 during mid-day trading on Friday, hitting $147.21. The company's stock had a trading volume of 1,474,527 shares, compared to its average volume of 3,945,998. The stock has a market cap of $84.13 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.62 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 one year low of $95.11 and a one year high of $189.49. The company's fifty day simple moving average is $137.02 and its 200-day simple moving average is $144.06.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.45% and a net margin of 14.59%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same period in the previous year, the business earned $1.72 EPS. The firm's revenue was down 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.51 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.39%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

About Apollo Global Management

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.