Skandinaviska Enskilda Banken AB publ Lowers Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.5%, selling 4,086 shares and bringing its total ownership to 157,351 shares valued at $21,551,000.
• Apollo Global Management reported a $1.82 EPS for the quarter, falling short of analysts' expectations, alongside a 21.2% year-over-year revenue decline to $5.55 billion.
• The company increased its quarterly dividend to $0.51, which reflects an annualized dividend of $2.04 and a yield of 1.35%.

Skandinaviska Enskilda Banken AB publ lessened its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 157,351 shares of the financial services provider's stock after selling 4,086 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Apollo Global Management were worth $21,551,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of APO. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management in the 4th quarter worth $25,000. GW&K Investment Management LLC increased its stake in Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC increased its stake in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Apollo Global Management in the 1st quarter worth $39,000. Finally, Cullen Frost Bankers Inc. increased its stake in Apollo Global Management by 36.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 408 shares of the financial services provider's stock worth $56,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Activity

In other Apollo Global Management 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 transaction of $530,280.00. Following the completion of the transaction, the chief financial officer owned 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APO. Cowen restated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Piper Sandler cut their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Barclays raised their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. TD Cowen cut their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley cut their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $161.00.

Apollo Global Management Trading Down 0.5%

Shares of NYSE:APO traded down $0.80 during trading hours on Wednesday, hitting $147.02. 556,318 shares of the company's stock traded hands, compared to its average volume of 3,603,269. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The business has a fifty day moving average price of $139.90 and a 200-day moving average price of $142.59. The firm has a market capitalization of $84.02 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter last year, the firm earned $1.72 EPS. The firm's quarterly revenue was down 21.2% on a year-over-year basis. Equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

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