Pacer Advisors Inc. Sells 8,534 Shares of Apollo Global Management Inc. $APO

Key Points

• Pacer Advisors Inc. cut its Apollo Global Management stake by 19.0% in the fourth quarter, selling 8,534 shares and leaving it with 36,309 shares worth about $5.26 million.
• Apollo reported Q1 earnings of $1.94 per share, beating analysts’ estimates, though revenue of $5.06 billion came in below expectations and was down 8.8% from a year earlier.
• The company recently raised its quarterly dividend to $0.5625 per share, or $2.25 annualized, while analysts currently maintain a Moderate Buy consensus with a $151.23 price target.

Pacer Advisors Inc. reduced its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 19.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 36,309 shares of the financial services provider's stock after selling 8,534 shares during the quarter. Pacer Advisors Inc.'s holdings in Apollo Global Management were worth $5,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider's stock worth $6,913,826,000 after buying an additional 340,956 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock valued at $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock valued at $643,982,000 after acquiring an additional 62,831 shares during the last quarter. Legal & General Group Plc grew its position in Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after acquiring an additional 155,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Apollo Global Management by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock worth $475,985,000 after acquiring an additional 98,945 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO opened at $135.26 on Tuesday. The business has a fifty day moving average of $128.71 and a 200 day moving average of $128.24. The stock has a market cap of $77.98 billion, a P/E ratio of 86.15, a PEG ratio of 1.18 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $157.28.

Apollo Global Management (NYSE:APO - Get Free Report) last released 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. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates 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 revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.51. Apollo Global Management's payout ratio is currently 143.31%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen decreased their price objective on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group cut their target price on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Barclays lifted their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, May 8th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.23.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the firm's 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 transaction, the insider directly owned 3,063,696 shares of the company's stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.30% of the company's stock.

Apollo Global Management Company 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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