Rockefeller Capital Management L.P. Sells 126,691 Shares of Apollo Global Management Inc. $APO

Key Points

• Rockefeller Capital Management cut its Apollo Global Management stake by 25.8% in the fourth quarter, selling 126,691 shares and leaving it with 363,793 shares worth about $52.7 million.
• Apollo reported better-than-expected quarterly earnings of $1.94 per share, though revenue came in below estimates and fell 8.8% year over year to $5.06 billion.
• The company also raised its quarterly dividend to $0.5625 per share, while Wall Street analysts currently maintain a Moderate Buy consensus with an average price target of $151.23.

Rockefeller Capital Management L.P. decreased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 25.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,793 shares of the financial services provider's stock after selling 126,691 shares during the period. Rockefeller Capital Management L.P. owned 0.06% of Apollo Global Management worth $52,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $29,000. Osbon Capital Management LLC acquired a new stake in Apollo Global Management in the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. boosted its holdings in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after acquiring an additional 96 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Apollo Global Management during the fourth quarter worth about $42,000. Finally, City Holding Co. increased its holdings in Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after buying an additional 243 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Up 0.3%

Shares of NYSE APO opened at $137.85 on Friday. The firm has a market cap of $79.47 billion, a price-to-earnings ratio of 87.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.50. The company's 50-day simple moving average is $128.15 and its 200-day simple moving average is $128.24. 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 issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company posted $1.82 EPS. Apollo Global Management's quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 an increase from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management's payout ratio is currently 143.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price 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. The Goldman Sachs Group reduced their price target on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Evercore reiterated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Wall Street Zen lowered Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, TD Cowen cut their price objective on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $151.23.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction that occurred on 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 sale, the insider directly owned 3,063,696 shares of the company's stock, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.30% of the stock is currently owned by company insiders.

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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