Frontier Capital Management Co. LLC Has $68.77 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Frontier Capital Management Co. LLC lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 416,400 shares of the financial services provider's stock after selling 268,512 shares during the period. Frontier Capital Management Co. LLC owned 0.07% of Apollo Global Management worth $68,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Diversified Trust Co bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $261,000. ORG Wealth Partners LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $97,000. Graypoint LLC boosted its position in shares of Apollo Global Management by 12.0% in the fourth quarter. Graypoint LLC now owns 1,988 shares of the financial services provider's stock worth $328,000 after buying an additional 213 shares during the period. Czech National Bank acquired a new stake in Apollo Global Management during the 4th quarter worth about $16,007,000. Finally, Brookstone Capital Management purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $441,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America upped their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods decreased their target price on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Citigroup decreased their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler reduced their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.89.

Insiders Place Their Bets

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade 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 the SEC website. Also, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the sale, the chief financial officer now directly owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. The trade was a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 509,000 shares of company stock valued at $72,321,680 in the last quarter. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Down 0.5 %

Shares of NYSE:APO traded down $0.70 during midday trading on Friday, hitting $132.49. The company had a trading volume of 2,734,832 shares, compared to its average volume of 3,880,967. The stock has a market cap of $75.58 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The firm has a fifty day simple moving average of $131.82 and a 200 day simple moving average of $152.55. 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 issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period in the previous year, the business posted $1.72 EPS. The business's quarterly revenue was down 21.2% compared to the same quarter last year. On average, analysts predict that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. 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.