Apollo Global Management Inc. (NYSE:APO) Shares Sold by Sierra Capital LLC

Sierra Capital LLC cut its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,587 shares of the financial services provider's stock after selling 1,868 shares during the quarter. Sierra Capital LLC's holdings in Apollo Global Management were worth $2,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after buying an additional 3,695,979 shares during the period. Vanguard Group Inc. raised its stake in Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after acquiring an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp increased its position in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APO. Piper Sandler cut their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Citigroup lowered their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Raymond James Financial initiated coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target on the stock. Finally, Barclays boosted their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. One research 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $159.00.

Apollo Global Management Price Performance

Shares of APO traded up $1.59 during trading hours on Wednesday, reaching $146.60. 2,719,960 shares of the company traded hands, compared to its average volume of 3,939,567. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $83.78 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.50 and a beta of 1.59. Apollo Global Management Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The stock has a fifty day simple moving average of $136.58 and a 200 day simple moving average of $144.41.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $5.55 billion during 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 firm's quarterly revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.39%. Apollo Global Management's payout ratio is currently 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.