PFG Investments LLC Sells 3,386 Shares of Apollo Global Management Inc. (NYSE:APO)

PFG Investments LLC cut its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 29.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,983 shares of the financial services provider's stock after selling 3,386 shares during the period. PFG Investments LLC's holdings in Apollo Global Management were worth $1,093,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after acquiring an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC grew its position in Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Northern Trust Corp grew its position in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after acquiring an additional 1,094,464 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer now owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the company's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on APO shares. UBS Group decreased their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. TD Cowen decreased their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America increased their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Finally, Citigroup decreased their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $134.61 on Monday. The company has a market capitalization of $76.93 billion, a PE ratio of 23.57, a PEG ratio of 1.39 and a beta of 1.59. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The stock's fifty day simple moving average is $133.31 and its 200 day simple moving average is $146.96.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business's quarterly revenue was down 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 EPS. On average, research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm 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 represents a $2.04 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. 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.

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