Natixis Advisors LLC Lowers Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• Natixis Advisors LLC cut its Apollo Global Management stake by 13% in the fourth quarter, selling 24,745 shares and leaving it with 165,467 shares valued at about $24.0 million.
• Apollo reported stronger-than-expected earnings of $1.94 per share for the quarter, though revenue came in below estimates at $5.06 billion and was down 8.8% year over year.
• The company raised its quarterly dividend to $0.5625 per share from $0.51, while analysts remain generally upbeat with a consensus rating of Moderate Buy and an average price target of $151.23.

Natixis Advisors LLC lowered its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,467 shares of the financial services provider's stock after selling 24,745 shares during the period. Natixis Advisors LLC's holdings in Apollo Global Management were worth $23,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Camden National Bank purchased a new stake in Apollo Global Management during the fourth quarter valued at about $246,000. Spinnaker Trust increased its stake in Apollo Global Management by 3.1% during the fourth quarter. Spinnaker Trust now owns 42,594 shares of the financial services provider's stock worth $6,166,000 after acquiring an additional 1,262 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Apollo Global Management by 3.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 21,100 shares of the financial services provider's stock worth $3,054,000 after acquiring an additional 700 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in Apollo Global Management by 5.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 7,842 shares of the financial services provider's stock worth $1,135,000 after acquiring an additional 419 shares during the last quarter. Finally, Founders Financial Securities LLC increased its stake in Apollo Global Management by 4.9% during the fourth quarter. Founders Financial Securities LLC now owns 14,561 shares of the financial services provider's stock worth $2,108,000 after acquiring an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by insiders.

Apollo Global Management Price Performance

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 business has a 50-day moving average of $122.44 and a 200-day moving average of $127.79. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $73.95 billion, a price-to-earnings ratio of 81.70, a PEG ratio of 1.07 and a beta of 1.50.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company's revenue was down 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. Apollo Global Management's dividend payout ratio (DPR) is currently 143.31%.

Analysts Set New Price Targets

Several brokerages have commented on APO. UBS Group upped their price target on Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. The Goldman Sachs Group dropped their price target on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings lowered Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Piper Sandler upped their price target on Apollo Global Management from $146.00 to $157.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. dropped their price target on 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $151.23.

About Apollo Global Management

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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