USS Investment Management Ltd lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,955 shares of the financial services provider's stock after selling 6,382 shares during the period. USS Investment Management Ltd's holdings in Apollo Global Management were worth $11,064,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in 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 valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the period. Geode Capital Management LLC increased its holdings in 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 valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $1,065,615,000 after purchasing an additional 1,739,807 shares during the period. Northern Trust Corp increased its holdings in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after purchasing an additional 1,460,689 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock valued at $479,057,000 after purchasing an additional 1,094,464 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. UBS Group cut their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley cut their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Raymond James assumed coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective on the stock. Finally, TD Cowen cut their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.00.
Read Our Latest Stock Analysis on APO
Apollo Global Management Stock Up 0.1%
Shares of APO traded up $0.16 during mid-day trading on Friday, reaching $130.97. The company had a trading volume of 2,339,526 shares, compared to its average volume of 3,943,896. The company has a market capitalization of $74.71 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. 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 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a 50-day moving average price of $132.93 and a 200 day moving average price of $152.16.
Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business's revenue was down 21.2% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. On average, sell-side analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current year.
Apollo Global Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.56%. Apollo Global Management's dividend payout ratio is 35.73%.
Insider Activity at Apollo Global Management
In related news, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. This represents a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares in the company, 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 currently owned by insiders.
About Apollo Global Management
(
Free Report)
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.
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