Insider Selling: Apollo Global Management (NYSE:APO) Insider Sells 48,644 Shares of Stock

Key Points

• Insider sale: Apollo Global Management insider John Zito sold 48,644 shares on May 27 at an average price of $130.66, totaling about $6.36 million. After the sale, he still held more than 3.06 million shares.
• Stock moved lower: APO shares were down about 2.1% in Thursday trading, hitting $127.55. The stock remains below its 52-week high of $157.28 but above its 52-week low of $99.56.
• Fundamentals and outlook: Apollo recently beat earnings expectations with $1.94 EPS versus $1.89 expected, while revenue came in below estimates. The company also raised its quarterly dividend to $0.5625 per share, and analysts currently rate the stock a Moderate Buy with a consensus target of $151.23.

Apollo Global Management Inc. (NYSE:APO - Get Free Report) insider John Zito sold 48,644 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Apollo Global Management Stock Down 2.1%

Shares of APO traded down $2.72 during midday trading on Thursday, hitting $127.55. The company had a trading volume of 3,215,778 shares, compared to its average volume of 4,746,708. The company's 50 day moving average price is $120.42 and its 200 day moving average price is $127.96. The stock has a market cap of $73.54 billion, a price-to-earnings ratio of 81.24, a PEG ratio of 1.12 and a beta of 1.52. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities research analysts predict that Apollo Global Management Inc. will post 8.29 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a dividend of $0.5625 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Apollo Global Management's dividend payout ratio (DPR) is currently 143.31%.

Institutional Trading of Apollo Global Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chesapeake Asset Management LLC increased its position in Apollo Global Management by 3.6% during the fourth quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider's stock worth $299,000 after acquiring an additional 72 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of Apollo Global Management by 1.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider's stock valued at $740,000 after purchasing an additional 78 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider's stock worth $1,383,000 after buying an additional 80 shares during the period. Sunbelt Securities Inc. boosted its position in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider's stock worth $75,000 after buying an additional 82 shares during the period. Finally, United Advisor Group LLC boosted its position in Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider's stock worth $282,000 after buying an additional 87 shares during the period. 77.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 10th. Argus raised shares of Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. UBS Group raised their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. The Goldman Sachs Group decreased their price target on shares of Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Finally, TD Cowen decreased their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $151.23.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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