Sumitomo Mitsui Trust Group Inc. Sells 2,348 Shares of Apollo Global Management Inc. (NYSE:APO)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 956,397 shares of the financial services provider's stock after selling 2,348 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.17% of Apollo Global Management worth $130,969,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of APO. Geode Capital Management LLC grew its holdings in shares of Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after purchasing an additional 3,695,979 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Apollo Global Management by 50.0% in 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 buying an additional 1,460,689 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APO. Citigroup reduced their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Bank of America raised their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Raymond James Financial began coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective on the stock. UBS Group reduced their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler reduced their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Trading Up 0.8%

Shares of APO traded up $1.20 during mid-day trading on Wednesday, reaching $142.83. 2,124,372 shares of the company were exchanged, compared to its average volume of 3,930,700. Apollo Global Management Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $81.63 billion, a PE ratio of 25.01, a PEG ratio of 1.46 and a beta of 1.59. The business has a 50 day simple moving average of $135.68 and a two-hundred day simple moving average of $145.38.

Apollo Global Management (NYSE:APO - Get Free Report) last issued 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 return on equity of 13.45% and a net margin of 14.59%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same quarter last year, the business earned $1.72 earnings per share. Apollo Global Management's revenue was down 21.2% compared to the same quarter last year. On average, analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the firm's stock in a transaction dated 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 directly owned 373,164 shares in the company, valued at $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider owned 621,754 shares of the company's stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is owned by company insiders.

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.