S&CO Inc. Decreases Holdings in Apollo Global Management Inc. $APO

Key Points

• S&CO Inc. reduced its stake in Apollo Global Management by 13.7% in the fourth quarter, selling 10,000 shares and leaving it with 62,880 shares valued at about $9.1 million.
• Analyst sentiment remains mostly positive overall, with Apollo carrying a “Moderate Buy” rating and an average target price of $150.75, though ratings have been mixed and one firm recently downgraded it to sell.
• Apollo reported better-than-expected EPS of $1.94 for the latest quarter, but revenue came in below estimates and fell 8.8% year over year; the company also raised its quarterly dividend to $0.5625 per share.

S&CO Inc. cut its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,880 shares of the financial services provider's stock after selling 10,000 shares during the period. S&CO Inc.'s holdings in Apollo Global Management were worth $9,102,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chesapeake Asset Management LLC raised its stake in Apollo Global Management by 3.6% during the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider's stock valued at $299,000 after buying an additional 72 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider's stock valued at $740,000 after buying an additional 78 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider's stock valued at $1,383,000 after buying an additional 80 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 82 shares during the last quarter. Finally, United Advisor Group LLC increased its position in shares of Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 87 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on APO. Barclays upped their price target 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. BMO Capital Markets reduced their price target on shares of Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating for the company in a research report on Tuesday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, February 10th. Evercore reaffirmed an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and an average target price of $150.75.

Apollo Global Management Trading Down 0.2%

Apollo Global Management stock opened at $135.23 on Friday. The firm has a 50 day moving average of $116.51 and a 200 day moving average of $127.73. The firm has a market capitalization of $77.96 billion, a price-to-earnings ratio of 86.13, a P/E/G ratio of 1.13 and a beta of 1.52. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $1.82 EPS. Apollo Global Management's revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, research analysts predict that Apollo Global Management Inc. will post 8.37 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a $0.5625 dividend. The ex-dividend date is 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 1.7%. Apollo Global Management's dividend payout ratio (DPR) is presently 129.94%.

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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