Mizuho Securities USA LLC Sells 6,574 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Apollo Global Management Inc. by 15.5%, now holding 35,791 shares valued at approximately $4.9 million.
• Analysts have mixed ratings on Apollo, with a consensus of 17 buy ratings, one strong buy, and one sell rating, reflecting varied outlooks for the company.
• Apollo Global Management recently declared a quarterly dividend of $0.51 per share, resulting in an annualized yield of 1.4%.

Mizuho Securities USA LLC trimmed its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,791 shares of the financial services provider's stock after selling 6,574 shares during the period. Mizuho Securities USA LLC's holdings in Apollo Global Management were worth $4,901,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after acquiring an additional 7,441 shares in the last quarter. Clearview Wealth Advisors LLC grew its position in Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after acquiring an additional 17,418 shares in the last quarter. Toronto Dominion Bank grew its position in Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after acquiring an additional 110,014 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Apollo Global Management in the first quarter worth approximately $871,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Apollo Global Management in the first quarter worth approximately $492,000. 77.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on APO. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Citigroup increased their price target on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Piper Sandler lowered their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Barclays increased their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.26.

Insider Buying and Selling

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Stock Up 0.6%

Shares of APO stock opened at $141.99 on Friday. The stock has a market cap of $81.15 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. Apollo Global Management Inc. has a one year low of $102.42 and a one year high of $189.49. The stock has a fifty day moving average price of $141.82 and a 200 day moving average price of $141.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.23% and a net margin of 13.25%. During the same period last year, the business earned $1.64 earnings per share. Analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

Apollo Global Management Company 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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