Pictet Asset Management Holding SA Has $20.86 Million Position in Apollo Global Management Inc. $APO

Key Points

• Pictet Asset Management reduced its stake in Apollo Global Management by 5.4% in Q1, selling 10,596 shares and leaving it with 187,233 shares worth about $20.86 million.
• Institutional ownership in Apollo remains high, with hedge funds and other investors controlling 77.06% of the company’s stock, while several firms such as Boston Partners and Wellington Management significantly increased their positions.
• Analyst sentiment is still mostly positive, with Apollo carrying a “Moderate Buy” consensus and an average price target of $151.23; the company also recently raised its quarterly dividend to $0.5625 per share.

Pictet Asset Management Holding SA lowered its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,233 shares of the financial services provider's stock after selling 10,596 shares during the period. Pictet Asset Management Holding SA's holdings in Apollo Global Management were worth $20,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APO. Boston Partners raised its position in Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock valued at $474,384,000 after buying an additional 1,692,532 shares during the period. Focus Partners Wealth lifted its stake in Apollo Global Management by 2,560.3% in the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider's stock worth $203,324,000 after acquiring an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC boosted its position in Apollo Global Management by 271.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider's stock worth $148,255,000 after acquiring an additional 748,697 shares during the period. Temasek Holdings Private Ltd grew its stake in Apollo Global Management by 879.2% during the 4th quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider's stock valued at $109,055,000 after acquiring an additional 676,411 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Apollo Global Management by 5,321.9% during the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider's stock valued at $79,845,000 after acquiring an additional 541,397 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Wall Street Analyst Weigh In

APO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Barclays boosted their price objective on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Royal Bank Of Canada increased their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $151.23.

Apollo Global Management Stock Up 0.1%

Shares of APO opened at $118.43 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $129.17 and a two-hundred day moving average price of $127.22. The stock has a market cap of $68.28 billion, a price-to-earnings ratio of 75.43, a P/E/G ratio of 1.02 and a beta of 1.50. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.Apollo Global Management's quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Equities analysts predict that Apollo Global Management Inc. will post 8.26 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. 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 1.9%. Apollo Global Management's dividend payout ratio (DPR) is 143.31%.

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was 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 directly owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

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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