SG Americas Securities LLC Sells 6,796 Shares of Apollo Global Management, Inc. (NYSE:APO)

SG Americas Securities LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 17.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,742 shares of the financial services provider's stock after selling 6,796 shares during the period. SG Americas Securities LLC's holdings in Apollo Global Management were worth $4,347,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the fourth quarter valued at $25,000. Hopwood Financial Services Inc. purchased a new position in shares of Apollo Global Management during the 4th quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management in the 4th quarter worth approximately $34,000. HM Payson & Co. purchased a new stake in Apollo Global Management in the fourth quarter worth approximately $45,000. Finally, Colonial Trust Co SC grew its position in Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on APO. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Wells Fargo & Company increased their target price on Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Barclays lifted their price target on Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Piper Sandler dropped their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Morgan Stanley decreased their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $159.00.

Apollo Global Management Stock Down 1.4%

APO traded down $1.87 during midday trading on Tuesday, reaching $132.23. The company's stock had a trading volume of 1,364,012 shares, compared to its average volume of 3,932,420. The stock's 50-day moving average is $132.80 and its 200-day moving average is $148.10. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market capitalization of $75.57 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 1.17 and a beta of 1.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter in the previous year, the firm posted $1.72 EPS. The firm's quarterly revenue was down 21.2% compared to the same quarter last year. As a group, research analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.51 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is currently 35.73%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Profile

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.