Livforsakringsbolaget Skandia Omsesidigt Has $3.62 Million Stock Position in Apollo Global Management Inc. $APO

Key Points

• Livforsakringsbolaget Skandia Omsesidigt cut its Apollo Global Management stake by 79.9% in the fourth quarter, leaving it with 24,979 shares valued at about $3.62 million.
• Apollo Global Management reported quarterly earnings of $1.94 per share, topping analyst expectations, though revenue came in below estimates and fell 8.8% year over year.
• The company recently raised its quarterly dividend to $0.5625 per share, and analysts currently hold a Moderate Buy consensus with an average price target of $151.23.

Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 79.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,979 shares of the financial services provider's stock after selling 99,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Apollo Global Management were worth $3,616,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Atlantic Union Bankshares Corp increased its position in shares of Apollo Global Management by 99.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $29,000. Physician Wealth Advisors Inc. increased its position in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after purchasing an additional 96 shares in the last quarter. City Holding Co. increased its position in shares of Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider's stock worth $44,000 after purchasing an additional 243 shares in the last quarter. Finally, Center for Financial Planning Inc. acquired a new stake in shares of Apollo Global Management during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Trading Up 3.1%

Shares of NYSE APO opened at $128.26 on Friday. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28. The company has a market cap of $73.95 billion, a PE ratio of 81.70, a P/E/G ratio of 1.07 and a beta of 1.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $122.44 and a two-hundred day moving average of $127.79.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping 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 company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company's revenue was down 8.8% on a year-over-year basis. As a group, equities analysts expect that Apollo Global Management Inc. will post 8.28 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. Stockholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's dividend payout ratio is presently 143.31%.

Analyst Ratings Changes

A number of brokerages recently issued reports on APO. 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. Barclays increased their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. BMO Capital Markets lowered their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, February 10th. Finally, Argus raised shares of Apollo Global Management to a "strong-buy" rating in a research note on Thursday, February 19th. One research 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 company's stock. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus price target of $151.23.

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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