Select Equity Group L.P. Has $155.93 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Select Equity Group L.P. cut its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 59.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 944,125 shares of the financial services provider's stock after selling 1,398,847 shares during the period. Select Equity Group L.P. owned about 0.17% of Apollo Global Management worth $155,932,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the fourth quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $34,000. Byrne Asset Management LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management in the fourth quarter valued at $45,000. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

NYSE:APO traded down $3.42 during mid-day trading on Tuesday, hitting $139.19. 3,073,332 shares of the stock traded hands, compared to its average volume of 3,918,132. The business's 50-day moving average price is $133.11 and its 200 day moving average price is $152.59. The company has a market cap of $79.41 billion, a PE ratio of 19.04, a price-to-earnings-growth 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 company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management (NYSE:APO - Get Free Report) last announced 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 net margin of 17.53% and a return on equity of 13.97%. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. During the same period last year, the company posted $1.72 EPS. Apollo Global Management's revenue for the quarter was down 21.2% on a year-over-year basis. On average, analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.47%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date is Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APO. Citigroup cut their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Raymond James initiated coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 target price for the company. Wells Fargo & Company cut their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. UBS Group cut their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Piper Sandler cut their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.89.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Company Profile

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.